Air France-KLM Group has reported full year 2023 net profit of €934 million on a year-over-year increase in revenue of 15.1 percent to €30.0 billion. For the fourth quarter, the Group reported a net loss of (€256) million on a 6.7 percent increase in revenue to €7.4 billion.
On Thursday (February 29, 2024), Air France-KLM Group reported their fourth quarter and full year financial results for the period ending December 31, 2023. The Group reported a fourth quarter net loss of (€256) million on a year-over-year increase in revenue of 6.7 percent at constant currency to €7.4 billion. For the full year 2023, Air France-KLM reported a net profit of €934 million on a 15.1 percent increase in revenue compared to FY 2022 to a record €30.0 billion. At December 31, 2023, the Group has €10.5 billion in cash on hand and had net debt totaling €5.0 billion, a €1.3 billion improvement from year-end 2022.
In Thursday’s financial report, Air France-KLM Group’s CEO, Mr. Benjamin Smith, said,
“In 2023, we delivered on our commitment to strong operational and financial performance, while also maintaining our position as a benchmark airline Group for sustainability. Among our major achievements, we can be satisfied of our efforts to further strengthen our balance sheet and restore the Group’s equity. We also placed a historic order for fifty Airbus A350s with purchase rights for forty additional aircraft, thereby accelerating our fleet’s renewal with latest-generation aircraft that offer improved fuel efficiency, lower CO2 and noise emissions, and an enhanced experience for our customers. We also confirmed our position as the world's leading user of sustainable aviation fuel, demonstrating our determination to double down on this key decarbonization lever to achieve our sustainability objectives.
“I would like to thank all Air France-KLM employees whose hard work has made these accomplishments possible. Looking ahead to 2024, a key priority will be to continue reinforcing our performance, via the continued execution of our strategy. This year will mark Air France-KLM’s 20th anniversary, an occasion made all the more special by the Paris 2024 Olympic and Paralympic Games, of which Air France is a proud official sponsor. We look forward to welcoming the world to France – athletes, delegates, supporters and more – onboard our aircraft to celebrate the world’s largest event.”
During 2023, the Air France-KLM Group added three Boeing 787-10 Dreamliners, seven Airbus A350-900s, sixteen B737-800s, sixteen A220-300s, four Embraer E195-E2s and two Embraer E190s. Additionally, the company took delivery of the first Airbus A320neo and A321neo in December 2023. Aircraft that departed the Group’s fleet in 2023 included three Boeing 737-700s, two Airbus A320s, six A319s, three A318s, three Embraer E170s and four CRJ-1000s. In total, the Air France-KLM Group’s fleet grew by 29 aircraft in 2023.
Source: Air France-KLM Group