Airline Air France experienced a financial improvement in 2023, whether in terms of turnover or profit. This fact emerges from figures released this week by the Air France-KLM group. Figures showing net profit and annual turnover unprecedented in the history of the Franco-Dutch airline group.
Air France-KLM published its financial results for 2023 on Thursday 29 February, posting its highest annual turnover ever. The Franco-Dutch airline group’s 2023 turnover slightly exceeds 30 billion euros, up 15.1% at constant exchange rates. Net profit was up 28.3% to 934 million euros.
The airline group has committed to positive equity, for the first time since 2019 and with 500 million euros. These unprecedented results were achieved even though attendance has not yet returned to pre-health crisis levels: 93.6 million passengers aboard Air France, KLM and Transavia aircraft in 2023, 10.3 million more than in 2022, but still 10.4 million less than in 2019. is
inside conversed, General Director of Air France-KLM, Benjamin Smith, welcomed this “solid operational and financial performance” and the recovery of the company’s financial structure, which was violently affected by the Covid-19 pandemic. In 2020 and 2021, the group accumulated 10.4 billion euros in losses, forcing it to carry out two recapitalizations and call for help from the French and Dutch states.
British Airways, Iberia and Air Algeria returned to profit, as did Air France
However, investors expected higher results from Air France-KLM, especially since other competing airline groups achieved better figures. In 2023, the British group IAG (British Airways, Iberia, etc.) pocketed annual net profit more than triple, to 2.7 billion euros. Lufthansa is due to announce its annual results on March 7.
National airline Air Algeria has also seen an improvement in finances. After seven years of losses, Air Algeria has managed to return to a financial surplus from 2022, which was announced in November 2023 by its former CEO, Yassine Benslimane. The financial reform, which “should continue in 2023, continuing to record a financial surplus, which represents one of the positive indicators of the company”, assured the members of APN’s finance committee, the former boss of the Algerian airline.
