Air France-KLM Reports 2023 Annual Results

DALLAS — Today, the Air France - KLM group announced its 2023 results. KLM (KL) carried 30.3 million passengers in 2023. In the same period, Transavia (HV) welcomed 8.9 million passengers.

The Air France - KLM group added three Boeing 787-10, seven Airbus A350-900s, sixteen Boeing B737-800, sixteen Airbus A220-300s, four Embraer E195-E2, and two Embraer 190s. The group welcomed its first Airbus A320neo and Airbus A321neo in December. Air-France KLM group has also placed an order for 50 Airbus A350s in 2023.

PH-BVA'Orange Pride' in Amsterdam Schiphol. The livery was refreshed in 2023, with the Dutch flag replacing the fading colors between doors 2 and 3. Photo: Alberto Cucini/Airways

Strong Revenue

The Dutch carrier generated EUR 12.1 billion in revenues in 2023, with operational profits of EUR 650 million, down from EUR 706 million in 2022. In the fourth quarter, the airline was under pressure from flight cancellations due to limited runway capacity at Amsterdam Airport Schiphol (AMS). The closure of the Russian airspace has also impacted KL's result, leading to an operating loss of EUR 18 million in Q4 2024.

Overall, Air France - KLM recorded an increase of EUR 519 million in operating results, up to EUR 1.7 billion. Revenues were up 14% compared to 2022, to EUR 30 billion. The group posted a net income of EUR 0.9 billion and the group's capacity reached 93% as compared to 2019 with a load factor of 87%. The group's debt has been reduced by EUR 1.35 billion, to EUR 5 billion.

At the end of 2023, HV became the first airline in the Air France-KLM group to welcome the Airbus A321neo. The type carries 232 passengers in a single-class configuration and was unveiled on December 20 during a ceremony inside its hangar at AMS. The Airbus A321neo represents a significant update to the airline's all-Boeing fleet, boosting its capacity while reducing the emissions per seat.

The inaugural event for Transavia's first A321neo in Amsterdam Schiphol. Photo: Simone Chellini/Airways

CEO Comments

KLM's CEO stated that in 2023, the focus was on recovery, with efforts made to introduce Premium Comfort Class and new World Business Class seats.

Despite operational improvements, challenges persisted due to supply chain issues and staffing shortages, leading to occasional lapses in meeting customer expectations.

The past year was dominated by KLM’s ongoing recovery. We continued the introduction of Premium Comfort Class and the new World Business Class seats. As a group, Air France-KLM decided to invest heavily in a new generation of long-haul aircraft, the Airbus A350, which is cleaner, quieter and more fuel-efficient than its predecessor. Although KLM fared better operationally in 2023 than in the previous year, we still faced hurdles. We had to reduce capacity, firstly, due to persistent global supply chain issues, and secondly, because we are making up for lost ground in the recruitment of engineers and pilots. Unfortunately, this meant we were not always able to meet customer expectations. Stable, manageable operations remain our priority in 2024. To this end, we’ve introduced measures that will bear fruit in the months ahead.