FX.co ★ Air France-KLM Q3 Net Income Down, Despite Higher Traffic, Capacity; Backs FY24 View

Air France-KLM Group (AFRAF.PK) announced on Thursday a 16% decline in its third-quarter net income attributable to the Group, which dropped to 780 million euros compared to 931 million euros in the previous year.

The operating income saw an 11% decrease, totaling 1.19 billion euros down from the 1.34 billion euros reported last year. However, the operating results remained stable when excluding the effects of the Olympic Games.

Revenues from regular operations increased by 4%, reaching 8.98 billion euros as opposed to last year’s 8.66 billion euros.

During the third quarter, Air France-KLM transported 27.9 million passengers, marking a 3.5% increase over the last year. The capacity in available seat kilometers rose by 3.6%, with traffic in revenue passenger-kilometers increasing by 3.1%. The load factor slightly decreased to 89.3%, down from the previous year's 89.7%.

Looking forward, the company anticipates a 4% increase in its Group capacity measured in Available Seat Kilometers for the year 2024.