The Franco-Dutch group reported being affected by relatively weak performance in cargo transportation and its low-cost airline Transavia during the summer, typically the most profitable season for airlines.
Air France-KLM attracted 4.7% more customers last summer compared to the previous year, with 29.2 million passengers traveling between early July and the end of September.
This growth was nonetheless below the increase in capacity, leading to a 0.5 percentage point drop in the load factor, down to 88.8%.
Revenue rose by 2.6% to 9.213 billion euros, while the operating margin remained almost unchanged at 13.1%.
The operating profit of Air France-KLM reached 1.203 billion euros in the third quarter, a 23% increase from 723 million euros the previous year.
With these figures, the group confirmed its annual targets despite rising costs and challenges faced by KLM.
“In the third quarter, Air France-KLM once again demonstrated its resilience in a challenging environment. We maintained solid revenue growth and a stable operating margin,” said the group’s CEO, Ben Smith, in a statement.
The group benefited from reduced fuel costs and a significant number of first-class bookings, yet continued to struggle with maintaining productivity in the economy class on flights to the United States.
Maintenance and other service costs also increased, leading to a slight rise in the group’s debt.
