Air France-KLM reports record profits and revenues in 2023

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The French-Dutch group Air France-KLM announced Thursday a record profit of 934 million euros ($1.01 billion) in 2023, despite a complex year-end due to operational difficulties and the war in the Middle East.

The group also reported in a statement record revenues of €30 billion and returned to positive equity for the first time since 2019.

Its earnings were slightly below analysts’ expectations of more than €1 billion, according to forecasts compiled by Factset and Bloomberg.

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However, the results contrast with the pandemic years, in which the group accumulated losses of €10.4 billion in 2020 and 2021, having to carry out two recapitalizations and request aid from the French and Dutch governments.

The group also announced a solid operating margin of 5.7% in 2023, up 1.2 points from the previous year, when it had returned to profit.

“In 2023 we deliver on our commitment to strong operational and financial performance,” said group CEO Benjamin Smith in the statement.

The record results were achieved despite the fact that passenger numbers have not reached the pre-Covid-19 level, AFP reported.