- Strong demand with 19.7m passengers onboard, up 35% versus 2022
- Group revenues at €6.3bn, an improvement of €1.9bn (+42%) compared to last yearthanks to continuous strong market demand
- Group unit cost1 per ASK stable at +0.7% versus 2022
- Operating result at –€0.3bn with operating margin at -4.8%, above 2022 level (-7.9%)
- Positive Adjusted operating free cash flow at €0.7bn and solid cash at hand at €9.7bn
- Net debt down by €0.9bn euros, compared to end of 2022
- Continued deleveraging: Net debt/EBITDA ratio at 1.5x versus 1.8x end of 2022
Commenting on the results, Mr. Benjamin Smith, Group CEO, said:” In the first quarter, Air France-KLM further capitalized on the recovery momentum in the airline industry. I’d like to thank all my colleagues who have worked tirelessly throughout the quarter to ensure we continue on our path to sustained profitability. The Group continued to show strong revenue growth as well as robust cash flow generation thanks to the very encouraging summer ticket sales. This is paving the way for a busy holiday season across our global network, which all of our teams are actively gearing up for. I am also pleased that we have now fully repaid all State aid, which releases us from the associated restrictions and gives us back our full strategic autonomy. We now stand on our own feet. Looking ahead, we remain focused on further strengthening our balance sheet and delivering the transformation efforts that will enable us to continue to improve our competitiveness while accelerating our decarbonization efforts.“