Second QUARTER 2022
July 29, 2022
Second QUARTER
2022Strong results
driven by a spike
in demand |
Second
quarter:
- Positive operating result at 386
million euros
- Net income at 324 million euros,
showing a 1.8 billion euros improvement compared to the same
quarter last year
- Positive adjusted operating free
cash flow at 1.5 billion euros thanks to positive EBITDA and strong
ticket sales. It improved by 1.3 billion euros compared to the same
quarter in 2021
- The Group has already successfully
achieved 2.8 billion euros of equity measures of the up to 4
billion announced last February
- Air France-KLM/Air France redeemed
1.6 billion euros of the French State perpetual bonds (including
coupon). KLM fully repaid the State backed RCF and direct Dutch
State loan amounting for 942 million euros
- Net debt at 6.0 billion euros, down
by 2.2 billion euros compared to end of 2021 thanks to a positive
adjusted operating free cash flow and the rights issue completed in
June 2022
Mr. Benjamin Smith, Group CEO, said:“The strong
recovery we see this summer is putting the entire aviation industry
to the test. While Air France-KLM had prepared for close to
pre-pandemic demand levels, our airlines are not immune to the
major operational challenges taking place around the world.
Customer satisfaction is at the top of our priorities and we know
we have not fully been able to deliver the quality of service that
has come to be expected from us. I would like to thank our
customers for their trust and patience. I would also like to
express my gratitude towards our employees for their unwavering
commitment, even in difficult situations. It is thanks to their
dedication and sense of collective responsibility that we are able
to post better-than-expected revenues and results this quarter.
Going forward we will continue to implement our strategy in order
to further transform our organization. We aim to increase our
resilience to the changes of our environment while continuing to
accelerate our efforts to make our Group and aviation as a whole
more sustainable.”
Outlook:
Context:Air France and KLM are
among the most active airlines to accommodate the travel recovery,
with a second quarter capacity for Network passenger activity at an
index of 82%. Despite the summer growth anticipation efforts since
January, operational difficulties arose in Europe and the United
States, mainly due to labour shortages at airports. Air France and
KLM are doing their utmost to mitigate these challenges and has
prioritised safeguarding the trust of our customers. For this
quarter, it resulted into 70 million euros additional compensation
costs.
CapacityIn this recovery
context, the Group expects the capacity in Available Seat
Kilometers for Air France-KLM Network passenger activity at an
index of:
- 80% to 85% in the Third quarter of
2022
- 85% to 90% in the Fourth quarter of
2022
- Circa 80% for the Full Year
2022
All indices compared to the respective period of
2019.
The capacity for Transavia in Available Seat
Kilometers is expected at an index above 100 for the full year and
in the third and fourth quarter 2022 compared to 2019.
YieldThe yield environment
should remain high for the rest of 2022 with a strong summer demand
resulting in yield levels above 2019.
Expected operating
result
- Significantly positive in the third quarter
- Positive in 2022, for the first
time since 2019
CashAs of June 30 2022, the
Group has a strong 11.9 billion euros of liquidity and credit lines
at disposal.
Full year 2022 Net Capex spending is estimated
at circa 2.5 billion euros, which is 80% fleet & fleet related
and 20% IT & Ground related.
Air France-KLM made major steps to pave
the financial trajectory
- In February, Air France-KLM
announced plans for a set of equity strengthening measures up to 4
billion euros.
- Later in June, the Group
successfully completed a 2.3 billion euros rights issue, with
CMA-CGM becoming a new strategic shareholder and a reference
commercial partner in the cargo activity. Air France-KLM / Air
France redeemed 1.6 billion euros of the French State perpetual
bonds (including coupon), aiming to redeem at least 75% as soon as
possible.
- In the meantime, KLM fully repaid
the State backed RCF and direct Dutch State loan amounting for 942
million euros. 2.4 billion euros RCF and State Loan is still
available, and KLM expects to strengthen its balance sheet with
positive net results and further equity measures are being
contemplated.
- Air France-KLM and Apollo have
closed on the 28th July an investment of 500 million euros by
Apollo Funds to finance an ad hoc affiliate of Air France owning a
pool of spare engines, as per the agreement signed on July 13th. In
alignment with the requirement of article 77 bis of the European
Commission’s “Temporary Framework for State aid recapitalization
measures”, proceeds from the investment will be used to further
redeem outstanding French State perpetual bonds issued in late
April 2021.
- Later in 2022-2023, the Group will
contemplate possible hybrid bond issuances up to 1.2 billion euros
subject to market conditions.
The restoration of negative equity will be done
through net profit generation and quasi/equity projects.
Air France-KLM
Group: Second
quarter operating margin
at 2019 level despite the steep
increase of fuel cost
|
Second quarter |
Half year |
|
2022 |
Change |
Change constant currency |
2022 |
Change |
Change constant currency |
Passengers (thousands) |
22,803 |
+224.5% |
|
37,326 |
+215.0% |
|
Capacity (ASK m) |
72,127 |
+81.9% |
|
130,192 |
+75.3% |
|
Traffic (RPK m) |
61,365 |
+243.4% |
|
104,499 |
+227.7% |
|
Passenger unit revenue per ASK (€ cts) |
7.41 |
+93.6% |
+89.1% |
6.51 |
+91.8% |
+87.9% |
Group unit revenue per ASK (€ cts) |
8.52 |
+46.1% |
+42.1% |
7.73 |
+41.4% |
+38.0% |
Group unit cost per ASK (€ cts) at constant fuel |
7.98 |
+3.2% |
-12.7% |
7.71 |
-4.6% |
-15.6% |
Revenues (€m) |
6,707 |
+143.9% |
+138.7% |
11,152 |
+127.1% |
+123.8% |
EBITDA (€m) |
931 |
1,180 |
1,186 |
1,152 |
2,029 |
2,050 |
Operating result (€m) |
386 |
1,139 |
1,145 |
36 |
1,970 |
1,989 |
Operating margin (%) |
5.8% |
+33.1 pt |
+32.8 pt |
0.3% |
+39.7 pt |
+39.5 pt |
Net income - Group part (€m) |
324 |
+1,813 |
|
-228 |
+2,744 |
|
Adj. operating free cash flow (€m) |
1,532 |
+1,322 |
|
2,163 |
+3,297 |
|
Net debt at end of period (€m)1 |
|
|
|
6,036 |
-2,180 |
|
In the Second quarter 2022, the Air France-KLM
Group posted a positive operating result of 386 million euros, up
by 1,145 million euros at a constant currency compared to last
year, and was driven by an increase of capacity. In parallel, the
increase of load factor and yield generated an increase of the unit
revenue. Net income amounted to 324 million euros in the Second
quarter 2022, an increase of 1.8 billion euros compared to last
year. The recognition of tax assets at KLM group for an amount of
around 300 million euros supported the positive net income
generation.
In a challenging cost environment,
transformation programs contain
the unit cost up 2.4% with 15% capacity below
2019.
The unit cost is up 2.4% at a constant fuel
price and constant currency versus the Second quarter 2019, with a
capacity down by 15%. The ongoing transformation programs enable
Air France-KLM to limit the impact of increasing costs such as
airport and ATC charges, and the KLM Collective Labour Agreement
(CLA) delayed implementation.
Compared to June 2019, the number of Full Time
Equivalents (FTE’s) of Air France excluding Transavia reduced by
16% and by 13% for KLM.
Staff costs decreased in the Second quarter by
11% compared to the same quarter in 2019 thanks to FTE reduction
and the French government support on wages. Corrected for
government support on wages, staff costs decreased by 9%.
Business
review
Network: Significant improvement in
operating result
Network |
Second quarter |
Half year |
2022 |
Change |
Change constant currency |
2022 |
Change |
Change constant currency |
Total revenues (€m) |
5,753 |
+143.5% |
+137.4% |
9,647 |
+128.6% |
+123.6% |
Scheduled revenues (€m) |
5,532 |
+153.0% |
+145.7% |
9,207 |
+136.1% |
+130.2% |
Operating result (€m) |
352 |
+1,006 |
+1,013 |
43 |
+1,758 |
+1,773 |
Second quarter 2022 revenues increased by 137.4%
at constant currency to 5,753 million euros. The operating result
amounted to 352 million euros, a 1,013 million euros increase at
constant currency compared to last year.
Passenger
network: Double-digit
yield increase on most regions and on botheconomy
and premium cabins
|
Second quarter |
Half year |
Passenger network |
2022 |
Change |
Change constant currency |
2022 |
Change |
Change constant currency |
Passengers (thousands) |
17,556 |
+199.9% |
|
29,497 |
+185.8% |
|
Capacity (ASK m) |
61,697 |
+69.4% |
|
114,268 |
+63.2% |
|
Traffic (RPK m) |
52,479 |
+229.4% |
|
91,346 |
+211.1% |
|
Load factor |
85.1% |
+41.3 pt |
|
79.9% |
+38.0 pt |
|
Total passenger revenues (€m) |
4,835 |
+229.3% |
+223.4% |
7,818 |
+214.3% |
+209.6% |
Scheduled passenger revenues (€m) |
4,732 |
+239.9% |
+231.3% |
7,610 |
+223.0% |
+216.0% |
Unit revenue per ASK (€ cts) |
7.67 |
+100.7% |
+95.6% |
6.66 |
+97.9% |
+93.6% |
Second quarter 2022, capacity in Available Seat
Kilometers (ASK) was 69.4% higher than last year and at 82% of 2019
Second quarter level which was in the middle of the Group’s
guidance provided during the First quarter 2022 results
presentation.
In response to the rise in fuel prices and other
external costs, the Group proceeded to different fare increases
during the first half of the year across all long-haul flights. The
amount of the increase varies according to destination and class of
travel, and applies to flights operated by Air France and KLM.
Additionally, the spike in travel demand, the strong performance in
Premium cabins, and the solid corporate traffic recovery have all
led to a yield above the 2019 level in the second quarter.
The Second quarter result is driven by a strong
performance of the entire network:
- North Atlantic: Strong improvement
since mid-January driven by the strong traffic recovery, with
strong yield due to fare increases and a positive cabin mix. The
second quarter showed new bookings outpacing 2019 levels.
- Capacity discipline on South
America routes combined with a very resilient demand led to a
strong yield. Corporate traffic ramped up quickly in the same
time.
- Asia: The strong yield performance
is due to limited capacity and the group continues to observe
important differences between the regions. South East Asia and
India showed positive dynamic in yield and traffic.
- Caribbean & Indian Ocean: The
yields improved thanks to successive fare increases and a positive
cabin mix effect.
- Africa: A strong corporate recovery
was observed in all areas. For KLM, the performance was driven by
East and South Africa with strong yield increase linked to positive
cabin mix and a positive economy yield evolution. For Air France,
performance was driven by West and Central African countries with a
good steering strategy.
- Middle-East: The second quarter
performance stayed strong thanks to Dubai, especially on premium
cabins and an increased traffic on some routes.
- Medium-haul: Strong booking dynamic
since March. KLM is impacted by operational challenges and
restrictions on flight departures from Amsterdam which led to
traffic restriction. The yield is above 2019, especially on leisure
routes with network capacity constraints and a positive competition
environment.
- Short-haul: The network was able to
absorb capacity recovery month over month thanks to business motive
dynamism. Yield is above 2019 helped by steering yield
initiatives.
During the Second quarter, Air France added
three Airbus 350-900 and two Airbus A220-300. One B777-200, one
Airbus 320, three Airbus 319, two Embraer 170 and five Canadair Jet
1000 were phased out. KLM phased in three Embraer 195 E2. The Group
will continue to introduce new generation aircraft to its fleet in
order to improve its economic and environmental performance.
Cargo: Strong yield
increase mitigates traffic impact on Asia trade lanes
|
Second quarter |
Half year |
Cargo business |
2022 |
Change |
Change constant currency |
2022 |
Change |
Change constant currency |
Tons (thousands) |
236 |
-13.4% |
|
472 |
-12.7% |
|
Capacity (ATK m) |
3,341 |
+27.4% |
|
6,315 |
+18.9% |
|
Traffic (RTK m) |
1,732 |
-17.2% |
|
3,497 |
-16.1% |
|
Load factor |
51.8% |
-27.9 pt |
|
55.4% |
-23.1 pt |
|
Total Cargo revenues (€m) |
918 |
+2.6% |
-1.1% |
1,828 |
+5.5% |
+2.2% |
Scheduled cargo revenues (€m) |
801 |
+0.7% |
-2.8% |
1,597 |
+3.5% |
+0.4% |
Unit revenue per ATK (€ cts ) |
23.96 |
-20.9% |
-23.7% |
25.29 |
-13.0% |
-15.5% |
Compared to the Second quarter 2021, cargo
capacity strongly increased by 27.4% in Available Ton Kilometers,
mainly due to the increase in worldwide belly capacity, except for
Asia. This limited belly capacity to Asia affected the overall
traffic which resulted in a traffic decrease of 17.2% and
contributed to an overall decrease in load factor by 27.9 points.
Yields, however, remain at a consistently high level (+17.4% vs.
2021), leading to a total Second quarter revenue performance at
last year's level.
When compared to the pre-COVID year 2019, cargo
capacity in the Second quarter was still 8% below 2019. However,
due to exceptional yield performance – driven by high demand –
total revenues in the Second quarter of 2022 were 76% higher than
2019.
In May, Air France-KLM announced its entry into
a strategic partnership with CMA-CGM Air Cargo (CCAC). The
partnership agreement is currently being worked out and expected to
be finalized before the end of 2022.In June, Air France-KLM Cargo
won the Air Cargo Industry Achievement Award for their pioneering
work in the development and distribution of sustainable aviation
fuel and the fast expansion of its leading SAF program.
Transavia:
Capacity above
pre-crisis level with a load
factor of
85%
|
Second quarter |
Half year |
Transavia |
2022 |
Change |
2022 |
Change |
Passengers (thousands) |
5,247 |
+346.8% |
7,828 |
+412.8% |
Capacity (ASK m) |
10,430 |
+221.9% |
15,924 |
+274.6% |
Traffic (RPK m) |
8,886 |
+358.2% |
13,154 |
+421.6% |
Load factor |
85.2% |
+25.3 pt |
82.6% |
+23.3 pt |
Total passenger revenues (€m) |
601 |
+378.0% |
850 |
+422.2% |
Unit revenue per ASK (€ cts) |
5.86 |
+51.0% |
5.41 |
+41.2% |
Unit cost per ASK (€ cts) |
6.04 |
-12.5% |
6.11 |
-31.9% |
Operating result (€m) |
-18 |
+80 |
-110 |
+108 |
In the Second quarter of 2022, the demand
recovery in leisure traffic in Europe and North Africa continued.
Compared to last year, the capacity in the Second quarter increased
by 221.9%, traffic increased by 358.2%, and the number of
passengers increased by 346.8%. Last year, Second quarter was
heavily impacted by travel restrictions in Europe and North
Africa.
The Operating result was slightly negative at
-18 million euros, although improved by 80 million euros compared
to the Second quarter of 2021.
Capacity in the Second quarter was above the
level of the Second quarter of 2019 and unit revenue even above the
Second quarter 2019 mainly driven by a strong yield
improvement.
The fleet of Transavia is approaching 100
aircraft, to further capture the strong demand of leisure traffic
in Europe.
Maintenance business:
Operating
margin above 2019 level
|
Second quarter |
Half year |
Maintenance |
2022 |
Change |
Change constant currency |
2022 |
Change |
Change constant currency |
Total revenues (€m) |
911 |
+34.1% |
|
1,742 |
+33.9% |
|
Third-party revenues (€m) |
345 |
+35.1% |
+35.3% |
642 |
+25.0% |
+30.0% |
Operating result (€m) |
57 |
60 |
61 |
101 |
111 |
117 |
Operating margin (%) |
6.3% |
+6.7 pt |
+6.8 pt |
5.8% |
+6.6 pt |
+7.1 pt |
The Second quarter operating result stood at 57
million euros, an increase of 61 million euros at constant currency
versus the Second quarter 2021 thanks to a higher activity and an
operational improvement.
Total revenues increased by 34.1% in the Second
quarter while third party revenues increased by 35.1%, showing a
strong recovery. The increase in internal revenues is consistent
with the activity increase of the Air France-KLM airlines compared
to the Second quarter 2021.The operating margin stood at 6.3%,
which is 6.7 points higher than the operating results in the Second
quarter 2021. The half year margin amounts to 5.8%, which is at the
level of the pre-covid period when excluding the states
support.
During the second quarter, Air France-KLM and
Apollo Global Management announced the signing of a definitive
agreement for Apollo managed funds and entities to make a 500
million euros investment in to an ad hoc operating affiliate of Air
France that will own a pool of spare engines dedicated to the
airline’s Engineering and Maintenance activities.
Second
quarter: Positive EBITDA
and strong ticket sales reinforces the
adjusted operating free
cash flow and supports net debt reduction by 2.2
billion euros
|
Second quarter |
Half year |
In € million |
2022 |
Change |
2022 |
Change |
Cash flow before change in WCR and Voluntary Departure Plans,
continuing operations (€m) |
785 |
+1,237 |
841 |
+2,083 |
Cash out related to Voluntary Departure Plans (€m) |
-68 |
+12 |
-125 |
+0 |
Change in Working Capital Requirement (WCR) (€m) |
1,510 |
+299 |
2,835 |
+1,715 |
Net cash flow from operating activities
(€m) |
2,239 |
1,525 |
3,620 |
3,787 |
Net investments* (€m) |
-482 |
-195 |
-1,015 |
-481 |
Operating free cash flow
(€m) |
1,757 |
+1,330 |
2,605 |
3,306 |
Repayment of lease debt |
-225 |
-8 |
-442 |
-9 |
Adjusted operating free cash flow** |
1,532 |
+1,322 |
2,163 |
+3,297 |
* Sum of ‘Purchase of property, plant and equipment and
intangible assets’ and ‘Proceeds on disposal of property, plant and
equipment and intangible assets’ as presented in the consolidated
cash flow statement.
** The “Adjusted operating free cash flow” is
operating free cash flow after deducting the repayment of lease
debt.
The Group generated an adjusted operating free
cash flow in the Second quarter 2022 of 1,532 million euros, an
increase of 1,322 million euros compared to last year, mainly
driven by a positive change in working capital of 1,510 million
euros. This was the fifth quarter in a row that the adjusted
operating free cash flow was positive.
In €
million |
30 Jun 2022 |
31 Dec 2021 |
Net debt |
6,036 |
8,216 |
EBITDA trailing 12 months |
2,773 |
745 |
Net debt/EBITDA trailing 12
months |
2.2 x |
11.0 x |
Both airlines able to reach positive
operating margin
|
Second quarter |
Half year |
|
2022 |
Change |
2022 |
Change |
Air France Group Operating result (€m) |
133 |
+700 |
-230 |
+1,179 |
Operating margin (%) |
3.3% |
+37.8 pt |
-3.4% |
+43.8 pt |
KLM Group Operating result (€m) |
262 |
+447 |
266 |
+787 |
Operating margin (%) |
9.4% |
+24.8 pt |
5.7% |
+30.1 pt |
- Significant improvement in
Operating result for both airlines with operating margins close to
2019 levels
******
The external auditors carried out limited review procedures.
Their limited review report was issued following the Board
meeting.
The results presentation is available at
www.airfranceklm.com on July 29, 2022 from 7:15 am
CET.
A conference call hosted by Mr. Smith (CEO) and Mr. Zaat (CFO)
will be held on July 29, 2022 at 08.30 am
CET. To
connect to the conference call, please dial:
France: Local +33 (0)1 76 77 28 19Netherlands:
Local +31 (0)20 703 8218UK: Local +44 (0)330 165 4012US: Local +1
323-701-0160
Confirmation code: 1131773
Investor Relations |
|
Press |
Frederic Kahane |
Michiel Klinkers |
|
|
|
+33 1 41 56 56
00 |
frkahane@airfranceklm.com |
Michiel.klinkers@airfranceklm.com |
|
Income Statement
|
Second quarter |
Half year |
€m |
2022 |
2021* |
Change |
2022 |
2021* |
Change |
Revenues from ordinary
activities |
6,707 |
2,750 |
+143.9% |
11,152 |
4,910 |
+127.1% |
Aircraft fuel |
-1,863 |
-520 |
+258.3% |
-2,858 |
-982 |
+191.0% |
Chartering costs |
-93 |
-78 |
+19.2% |
-193 |
-147 |
+31.3% |
Landing fees and air route charges |
-436 |
-245 |
+78.0% |
-784 |
-460 |
+70.4% |
Catering |
-176 |
-68 |
+158.8% |
-319 |
-126 |
+153.2% |
Handling charges and other operating costs |
-401 |
-211 |
+90.0% |
-722 |
-402 |
+79.6% |
Aircraft maintenance costs |
-603 |
-447 |
+34.9% |
-1,118 |
-792 |
+41.2% |
Commercial and distribution costs |
-230 |
-72 |
+219.4% |
-384 |
-131 |
+193.1% |
Other external expenses |
-368 |
-254 |
+44.9% |
-702 |
-552 |
+27.2% |
Salaries and related costs |
-1,820 |
-1,238 |
+47.0% |
-3,343 |
-2,406 |
+38.9% |
Taxes other than income taxes |
-34 |
-29 |
+17.2% |
-80 |
-69 |
+15.9% |
Other income and expenses |
248 |
163 |
+52.1% |
503 |
280 |
+79.6% |
EBITDA |
931 |
-249 |
nm |
1,152 |
-877 |
nm |
Amortization, depreciation and provisions |
-545 |
-504 |
+8.1% |
-1,116 |
-1,057 |
+5.6% |
Income from current operations |
386 |
-753 |
nm |
36 |
-1,934 |
nm |
Sales of aircraft equipment |
39 |
-11 |
nm |
39 |
-14 |
nm |
Other non-current income and expenses |
-10 |
-849 |
-98.8% |
-15 |
-853 |
-98% |
Income from operating activities |
415 |
-1,613 |
nm |
60 |
-2,801 |
nm |
Cost of financial debt |
-136 |
-149 |
-8.7% |
-277 |
-339 |
-18.3% |
Income from cash and cash equivalent |
1 |
2 |
-50.0% |
0 |
3 |
-100.0% |
Net cost of financial debt |
-135 |
-147 |
-8.2% |
-277 |
-336 |
-17.6% |
Other financial income and expenses |
-238 |
5 |
nm |
-286 |
-85 |
+236.5% |
Income before tax |
42 |
-1,755 |
nm |
-503 |
-3,222 |
-84.4% |
Income taxes |
283 |
272 |
+4.0% |
278 |
263 |
+5.7% |
Net income of consolidated companies |
325 |
-1,483 |
nm |
-225 |
-2,959 |
-92.4% |
Share of profits (losses) of associates |
0 |
-9 |
-100.0% |
-1 |
-16 |
-93.8% |
Net income for the period |
325 |
-1,492 |
nm |
-226 |
-2,975 |
-92.4% |
Non-controlling interests |
1 |
-3 |
nm |
2 |
-3 |
nm |
Net income for the period – Group part |
324 |
-1,489 |
nm |
-228 |
-2,972 |
-92.3% |
* Restated figures include the change in accounting principles
for pensions (interpretation of IAS19)
Consolidated Balance Sheet
Assets |
30 Jun
2022 |
31 Dec 2021 |
€m |
Goodwill |
223 |
222 |
Intangible assets |
1,213 |
1,235 |
Flight equipment |
10,521 |
10,466 |
Other property, plant and equipment |
1,358 |
1,402 |
Right-of-use assets |
5,439 |
5,148 |
Investments in equity associates |
108 |
109 |
Other non-current financial assets |
1,064 |
951 |
Non-current derivatives financial assets |
304 |
143 |
Deferred tax assets |
494 |
278 |
Total non-current assets |
20,724 |
19,954 |
Assets held for sale |
78 |
74 |
Other current financial assets |
589 |
484 |
Current derivatives financial assets |
954 |
469 |
Inventories |
654 |
567 |
Trade receivables |
2,045 |
1,511 |
Other current assets |
1,133 |
966 |
Cash and cash equivalents |
8,173 |
6,658 |
Total current assets |
13,626 |
10,729 |
Total assets |
34,350 |
30,683 |
Liabilities and equity |
30 Jun
2022 |
31 Dec 2021 |
In million
euros |
Issued capital |
2,571 |
643 |
Additional paid-in capital |
5,217 |
4,949 |
Treasury shares |
-25 |
-25 |
Perpetual bonds |
1,389 |
3,151 |
Reserves and retained earnings |
-12,349 |
-12,542 |
Equity attributable to equity holders of Air
France-KLM |
-3,197 |
-3,824 |
Non-controlling interests |
10 |
8 |
Total Equity |
-3,187 |
-3,816 |
Pension provisions |
1,558 |
1,939 |
Non-current return obligation liability and other provisions |
4,272 |
4,055 |
Non-current financial liabilities |
10,568 |
11,274 |
Non-current lease debt |
3,335 |
2,924 |
Non-current derivatives financial liabilities |
1 |
25 |
Deferred tax liabilities |
3 |
1 |
Other non-current liabilities |
2,465 |
2,555 |
Total non-current liabilities |
22,202 |
22,773 |
Current return obligation liability and other provisions |
838 |
885 |
Current financial liabilities |
1,079 |
1,215 |
Current lease debt |
851 |
825 |
Current derivatives financial liabilities |
42 |
46 |
Trade payables |
2,821 |
1,850 |
Deferred revenue on ticket sales |
4,938 |
2,644 |
Frequent flyer programs |
868 |
888 |
Other current liabilities |
3,896 |
3,369 |
Bank overdrafts |
2 |
4 |
Total current liabilities |
15,335 |
11,726 |
Total equity and liabilities |
34,350 |
30,683 |
Statement of Consolidated Cash Flows
from 1st January until
30 June
2022
€m |
30 Jun
2022 |
30 Jun
2021* |
Net income |
-226 |
-2,975 |
Amortization, depreciation and operating provisions |
1,116 |
1,057 |
Financial provisions |
69 |
58 |
Loss (gain) on disposals of tangible and intangible assets |
-40 |
14 |
Loss (gain) on disposals of subsidiaries and associates |
- |
-26 |
Derivatives – non monetary result |
-20 |
-29 |
Unrealized foreign exchange gains and losses, net |
240 |
86 |
Impairment |
17 |
15 |
Other non-monetary items |
-90 |
762 |
Share of (profits) losses of associates |
1 |
16 |
Deferred taxes |
-282 |
-265 |
Financial Capacity |
785 |
-1,287 |
(Increase) / decrease in inventories |
-79 |
12 |
(Increase) / decrease in trade receivables |
-437 |
-268 |
Increase / (decrease) in trade payables |
971 |
138 |
Increase / (decrease) in advanced ticket sales |
2,276 |
489 |
Change in other receivables and payables |
104 |
749 |
Change in working capital
requirement |
2,835 |
1,120 |
Net cash flow from operating activities |
3,620 |
-167 |
Acquisition of subsidiaries, of shares in non-controlled
entities |
- |
2 |
Purchase of property, plant and equipment and intangible
assets |
-1,491 |
-1,099 |
Proceeds on disposal of subsidiaries, of shares in non-controlled
entities |
- |
71 |
Proceeds on disposal of property, plant and equipment and
intangible assets |
476 |
565 |
Decrease (increase) in net investments, more than 3 months |
6 |
85 |
Dividends received |
1 |
- |
Net cash flow used in investing activities |
-1,008 |
-376 |
Increase of equity |
1,551 |
1,024 |
Perpetual |
-993 |
- |
Coupons on perpetual |
-229 |
- |
Issuance of debt |
552 |
690 |
Repayment on debt |
-1,187 |
-750 |
Payments on debt on lease with bargain option |
-228 |
-385 |
Payments on lease debt |
-442 |
-433 |
New loans |
-175 |
-37 |
Repayment on loans |
16 |
44 |
Net cash flow from financing activities |
-1,135 |
153 |
Effect of exchange rate on cash and cash equivalents and bank
overdrafts (net of cash acquired or sold) |
40 |
1 |
Change in cash and cash equivalents and bank
overdrafts |
1,517 |
-389 |
Cash and cash equivalents and bank overdrafts at beginning of
period |
6,654 |
6,422 |
Cash and cash equivalents and bank overdrafts at end of period |
8,171 |
6,033 |
* Restated figures include the change in accounting principles
for pensions (interpretation of IAS19)Return on capital
employed (ROCE)
In million
euros |
30 Jun 2022 |
31 Mar 2022 |
31 Dec 2021 |
30* Sep
2021 |
30* Jun
2021 |
31* Mar
2021 |
31* Dec 2020 |
30* Sep 2020 |
Goodwill and intangible assets |
1,437 |
1,473 |
1,457 |
1,456 |
1,464 |
1,479 |
1,445 |
1,470 |
Flight equipment |
10,521 |
10,537 |
10,466 |
10,478 |
10,645 |
10,800 |
11,031 |
11,009 |
Other property, plant and equipment |
1,358 |
1,378 |
1,402 |
1,418 |
1,453 |
1,476 |
1,548 |
1,535 |
Right of use assets |
5,393 |
5,205 |
5,148 |
5,061 |
5,033 |
4,795 |
4,678 |
4,789 |
Investments in equity associates |
108 |
107 |
109 |
172 |
166 |
223 |
230 |
224 |
Financial assets excluding marketable securities and financial
deposits |
162 |
158 |
157 |
147 |
147 |
146 |
146 |
135 |
Provisions, excluding pension, cargo litigation and
restructuring |
-4,471 |
-4,239 |
-4,173 |
-4,180 |
-4,033 |
-4,083 |
-3,922 |
-4,002 |
WCR, excluding market value of derivatives |
-11,156 |
-9,589 |
-8,262 |
-7,995 |
-7,745 |
-6,410 |
-6,505 |
-6,894 |
Capital employed |
3,352 |
5,030 |
6,304 |
6,557 |
7,130 |
8,426 |
8,651 |
8,266 |
Average capital employed (A) |
5,311 |
8,118 |
Adjusted results from current operations |
344 |
-4,119 |
- Dividends received |
0 |
0 |
- Share of profits (losses) of associates |
-12 |
-45 |
- Normative income tax |
-80 |
1,211 |
Adjusted result from current operations after tax
(B) |
252 |
-2,953 |
ROCE, trailing 12 months (B/A) |
4.7% |
-36.4% |
* Restated figures include the change in accounting principles
for pensions (interpretation of IAS19)
Net debt
|
Balance sheet at |
€m |
31 Jun
2022 |
31 Dec 2021 |
Current and non-current financial liabilities |
11,647 |
12,489 |
Current and non-current lease debt |
4,186 |
3,749 |
Accrued interest |
-122 |
-128 |
Deposits related to financial liabilities |
-96 |
-99 |
Deposits related to lease debt |
-96 |
-85 |
Derivatives impact on debt |
-60 |
-14 |
Gross financial debt (A) |
15,459 |
15,912 |
Cash and cash equivalents |
8,173 |
6,658 |
Marketable securities |
85 |
189 |
Cash secured |
424 |
324 |
Triple A bonds |
743 |
529 |
Bank overdrafts |
-2 |
-4 |
Net cash (B) |
9,423 |
7,696 |
Net debt (A) – (B) |
6,036 |
8,216 |
Adjusted operating free cash
flow
|
Second quarter |
Half year |
€m |
2022 |
2021 |
2022 |
2021 |
Net cash flow from operating activities |
2,239 |
714 |
3,620 |
-167 |
Investment in property, plant, equipment and intangible assets |
-787 |
-632 |
-1,491 |
-1,099 |
Proceeds on disposal of property, plant, equipment and intangible
assets |
305 |
345 |
476 |
565 |
Operating free cash flow |
1,757 |
427 |
2,605 |
-701 |
Payments on lease debt |
-225 |
-217 |
-442 |
-433 |
Adjusted operating free cash flow |
1,532 |
210 |
2,163 |
-1,134 |
Bridge from EBITDA to Financial capacity
|
Second quarter |
First Half |
|
2022 |
2021* |
2022 |
2021* |
EBITDA |
931 |
-249 |
1,152 |
-877 |
Provisions (CO2 and other) |
-27 |
-70 |
-16 |
-28 |
Correction of spare parts inventory |
1 |
2 |
3 |
3 |
Addition to pension provisions |
33 |
60 |
65 |
137 |
Reversal to pension provisions (cash-out) |
-19 |
-40 |
-32 |
-83 |
Sales of tangible and intangible assets (excluding
aeronauticals) |
31 |
70 |
31 |
31 |
Income from operation activities - cash
impact |
950 |
-227 |
1,203 |
-817 |
Restructuring costs |
-68 |
-80 |
-125 |
-125 |
Other non-current income and expenses |
- |
-63 |
-2 |
-63 |
Cost of financial debt |
-139 |
-134 |
-283 |
-302 |
Financial income |
-3 |
-3 |
-8 |
-7 |
Realized foreign exchanges gain/loss |
-11 |
20 |
3 |
47 |
Termination of trading hedges - cash |
- |
-1 |
- |
-8 |
Settlements of forwards derivates - cash |
- |
-2 |
- |
-2 |
Current income tax |
- |
1 |
-4 |
-2 |
Other financial charges & expenses - cash |
- |
-8 |
- |
-8 |
Other elements |
- |
- |
1 |
- |
Financial capacity |
729 |
-497 |
785 |
-1,287 |
* Restated figures include the change in accounting principles
for pensions (interpretation of IAS19)
Unit cost: net cost per ASK
|
Second quarter |
Half year |
|
2022 |
2021* |
2022 |
2021* |
Revenues (in €m) |
6,707 |
2,750 |
11,152 |
4,910 |
Income/(loss) from current operations (in €m) -/- |
-386 |
753 |
-36 |
1,934 |
Total operating expense (in €m) |
6,321 |
3,503 |
11,116 |
6,844 |
Passenger network business – other revenues (in €m) |
-103 |
-77 |
-208 |
-131 |
Cargo network business – other revenues (in €m) |
-117 |
-99 |
-231 |
-190 |
Third-party revenues in the maintenance business (in €m) |
-345 |
-255 |
-642 |
-514 |
Transavia - other revenues (in €m) |
10 |
- |
12 |
- |
Third-party revenues of other businesses (in €m) |
-8 |
-6 |
-13 |
-13 |
Net cost (in €m) |
5,758 |
3,066 |
10,034 |
5,997 |
Capacity produced, reported in ASK* |
72,127 |
39,657 |
130,192 |
74,254 |
Net cost per ASK (in € cents per ASK) |
7.98 |
7.73 |
7.71 |
8.08 |
Gross change |
|
3.2% |
|
-4.6% |
Currency effect on net costs (in €m) |
|
-70 |
|
-118 |
Change at constant currency |
|
0.9% |
|
-6.4% |
Fuel price effect (in €m) |
|
492 |
|
668 |
Net cost per ASK on a constant currency and fuel price
basis (in € cents per ASK) |
7.98 |
9.15 |
7.71 |
9.14 |
Change at constant currency and fuel price
basis |
|
-12.7% |
|
-15.6% |
* Restated figures include the change in accounting principles
for pensions (interpretation of IAS19)(1) The capacity produced by
the transportation activities is combined by adding the capacity of
the Passenger network (in ASK) to that of Transavia (in ASK).
Group resultsAir
France Group
|
Second quarter |
Half year |
|
2022 |
Change |
2022 |
Change |
Revenue (in €m) |
4,062 |
+146.7% |
6,743 |
+125.8% |
EBITDA (in €m) |
444 |
+726 |
422 |
+1,217 |
Operating result (in €m) |
133 |
+700 |
-230 |
+1,179 |
Operating margin (%) |
3.3% |
+37.8 pt |
-3.4% |
+43.8 pt |
Operating cash flow before WCR and restructuring cash out (in
€m) |
343 |
+741 |
255 |
+1,274 |
Operating cash flow (before WCR and restructuring) margin |
8.4% |
+32.6 pt |
3.8% |
+37.9 pt |
KLM Group
|
Second quarter |
Half year |
|
2022 |
Change |
2022 |
Change |
Revenue (in €m) |
2,782 |
+130.5% |
4,685 |
+119.2% |
EBITDA (in €m) |
495 |
+462 |
729 |
+807 |
Operating result (in €m) |
262 |
+447 |
266 |
+787 |
Operating margin (%) |
9.4% |
+24.8 pt |
5.7% |
+30.1 pt |
Operating cash flow before WCR and restructuring cash out (in
€m) |
469 |
+525 |
667 |
+836 |
Operating cash flow (before WCR and restructuring) margin |
16.9% |
+21.5 pt |
14.2% |
+22.2 pt |
NB: Sum of individual airline results does not add up to Air
France-KLM total due to intercompany eliminations at Group
level
Group fleet at
30 June
2022
Aircraft type |
AF(incl. HOP) |
KL (incl. KLC & MP) |
Transavia |
Owned |
Finance lease |
Operating lease |
Total |
In operation |
Change /
31/12/21 |
B777-300 |
43 |
16 |
|
19 |
16 |
24 |
59 |
59 |
|
B777-200 |
19 |
15 |
|
27 |
|
7 |
34 |
33 |
-3 |
B787-9 |
10 |
13 |
|
4 |
7 |
12 |
23 |
23 |
|
B787-10 |
|
6 |
|
2 |
4 |
|
6 |
5 |
|
A380-800 |
8 |
|
|
4 |
1 |
3 |
8 |
|
|
A350-900 |
18 |
|
|
3 |
7 |
8 |
18 |
18 |
6 |
A330-300 |
|
5 |
|
|
|
5 |
5 |
5 |
1 |
A330-200 |
15 |
6 |
|
11 |
|
10 |
21 |
21 |
|
Total Long-Haul |
113 |
61 |
0 |
70 |
35 |
69 |
174 |
164 |
4 |
B737-900 |
|
5 |
|
5 |
|
|
5 |
5 |
|
B737-800 |
|
31 |
95 |
33 |
8 |
85 |
126 |
126 |
10 |
B737-700 |
|
10 |
4 |
7 |
|
7 |
14 |
14 |
|
A321 |
19 |
|
|
11 |
|
8 |
19 |
19 |
|
A320 |
41 |
|
|
4 |
4 |
33 |
41 |
40 |
-2 |
A319 |
25 |
|
|
12 |
|
13 |
25 |
24 |
-4 |
A318 |
12 |
|
|
6 |
|
6 |
12 |
11 |
-1 |
A220-300 |
10 |
|
|
7 |
|
3 |
10 |
9 |
3 |
Total Medium-Haul |
107 |
46 |
99 |
85 |
12 |
155 |
252 |
248 |
6 |
Canadair Jet 1000 |
9 |
|
|
9 |
|
|
9 |
6 |
-5 |
Canadair Jet 700 |
|
|
|
|
|
|
|
|
|
Embraer 195 E2 |
|
12 |
|
|
|
12 |
12 |
12 |
5 |
Embraer 190 |
19 |
30 |
|
16 |
5 |
28 |
49 |
49 |
2 |
Embraer 175 |
|
17 |
|
3 |
14 |
|
17 |
17 |
|
Embraer 170 |
13 |
|
|
10 |
|
3 |
13 |
13 |
-2 |
Embraer 145 |
2 |
|
|
2 |
|
|
2 |
|
|
Total Regional |
43 |
59 |
0 |
40 |
19 |
43 |
102 |
97 |
0 |
B747-400ERF |
|
3 |
|
3 |
|
|
3 |
3 |
|
B747-400BCF |
|
1 |
|
1 |
|
|
1 |
1 |
|
B777-F |
2 |
|
|
|
|
2 |
2 |
2 |
|
Total Cargo |
2 |
4 |
0 |
4 |
0 |
2 |
6 |
6 |
0 |
|
|
|
|
|
|
|
|
|
|
Total |
265 |
170 |
99 |
199 |
66 |
269 |
534 |
515 |
10 |
SECOND QUARTER
2022
TRAFFIC
Passenger network activity*
|
|
Q2 |
|
|
Year to date |
Total Passenger network* |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Passengers carried (‘000s) |
17,556 |
5,853 |
199.9% |
|
29,497 |
10,321 |
185.8% |
Revenue pax-kilometers (m RPK) |
52,479 |
15,931 |
229.4% |
|
91,346 |
29,362 |
211.1% |
Available seat-kilometers (m ASK) |
61,697 |
36,417 |
69.4% |
|
114,268 |
70,003 |
63.2% |
Load factor (%) |
85.1% |
43.7% |
41.3 |
|
79.9% |
41.9% |
38.0 |
|
|
|
|
|
|
|
|
Long-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
5,771 |
1,769 |
226.2% |
|
10,155 |
3,338 |
204.2% |
Revenue pax-kilometers (m RPK) |
42,070 |
12,199 |
244.9% |
|
74,396 |
23,163 |
221.2% |
Available seat-kilometers (m ASK) |
49,285 |
30,625 |
60.9% |
|
92,525 |
59,951 |
54.3% |
Load factor (%) |
85.4% |
39.8% |
45.5 |
|
80.4% |
38.6% |
41.8 |
|
|
|
|
|
|
|
|
North America |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
2,289 |
423 |
440.6% |
|
3,530 |
698 |
406.1% |
Revenue pax-kilometers (m RPK) |
16,330 |
3,113 |
424.6% |
|
25,386 |
5,143 |
393.6% |
Available seat-kilometers (m ASK) |
19,139 |
9,005 |
112.5% |
|
32,291 |
16,068 |
101.0% |
Load factor (%) |
85.3% |
34.6% |
50.8 |
|
78.6% |
32.0% |
46.6 |
|
|
|
|
|
|
|
|
Latin America |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
767 |
171 |
347.8% |
|
1,442 |
366 |
294.2% |
Revenue pax-kilometers (m RPK) |
7,215 |
1,650 |
337.3% |
|
13,726 |
3,514 |
290.7% |
Available seat-kilometers (m ASK) |
8,144 |
5,165 |
57.7% |
|
15,801 |
10,457 |
51.1% |
Load factor (%) |
88.6% |
32.0% |
56.6 |
|
86.9% |
33.6% |
53.3 |
|
|
|
|
|
|
|
|
Asia / Middle East |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
859 |
327 |
163.0% |
|
1,493 |
601 |
148.2% |
Revenue pax-kilometers (m RPK) |
6,117 |
2,190 |
179.2% |
|
10,508 |
4,038 |
160.2% |
Available seat-kilometers (m ASK) |
7,390 |
7,103 |
4.0% |
|
14,610 |
14,348 |
1.8% |
Load factor (%) |
82.8% |
30.8% |
51.9 |
|
71.9% |
28.1% |
43.8 |
|
|
|
|
|
|
|
|
Africa |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
936 |
537 |
74.1% |
|
1,751 |
954 |
83.6% |
Revenue pax-kilometers (m RPK) |
5,568 |
2,948 |
88.9% |
|
10,360 |
5,214 |
98.7% |
Available seat-kilometers (m ASK) |
6,839 |
5,287 |
29.4% |
|
13,137 |
10,088 |
30.2% |
Load factor (%) |
81.4% |
55.8% |
25.7 |
|
78.9% |
51.7% |
27.2 |
|
|
|
|
|
|
|
|
Caribbean / Indian Ocean |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
920 |
310 |
196.5% |
|
1,939 |
719 |
169.8% |
Revenue pax-kilometers (m RPK) |
6,840 |
2,298 |
197.7% |
|
14,415 |
5,255 |
174.3% |
Available seat-kilometers (m ASK) |
7,773 |
4,065 |
91.2% |
|
16,687 |
8,990 |
85.6% |
Load factor (%) |
88.0% |
56.5% |
31.5 |
|
86.4% |
58.4% |
27.9 |
|
|
|
|
|
|
|
|
Short and Medium-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
11,784 |
4,084 |
188.5% |
|
19,342 |
6,983 |
177.0% |
Revenue pax-kilometers (m RPK) |
10,409 |
3,731 |
179.0% |
|
16,950 |
6,199 |
173.4% |
Available seat-kilometers (m ASK) |
12,412 |
5,792 |
114.3% |
|
21,743 |
10,052 |
116.3% |
Load factor (%) |
83.9% |
64.4% |
19.4 |
|
78.0% |
61.7% |
16.3 |
* Air France and KLM
Transavia
activity
|
|
Q2 |
|
|
Year to date |
Transavia |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Passengers carried (‘000s) |
5,247 |
1,175 |
346.8% |
|
7,828 |
1,527 |
412.8% |
Revenue pax-kilometers (m RPK) |
8,886 |
1,939 |
358.2% |
|
13,154 |
2,522 |
421.6% |
Available seat-kilometers (m ASK) |
10,430 |
3,240 |
221.9% |
|
15,924 |
4,251 |
274.6% |
Load factor (%) |
85.2% |
59.9% |
25.3 |
|
82.6% |
59.3% |
23.3 |
Total group passenger
activity**
|
|
Q2 |
|
|
Year to date |
Total group** |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Passengers carried (‘000s) |
22,803 |
7,028 |
224.5% |
|
37,326 |
11,848 |
215.0% |
Revenue pax-kilometers (m RPK) |
61,365 |
17,870 |
243.4% |
|
104,499 |
31,884 |
227.7% |
Available seat-kilometers (m ASK) |
72,127 |
39,657 |
81.9% |
|
130,192 |
74,254 |
75.3% |
Load factor (%) |
85.1% |
45.1% |
40.0 |
|
80.3% |
42.9% |
37.3 |
** Air France, KLM and Transavia
Cargo activity
|
|
Q2 |
|
|
Year to date |
Total Group |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Revenue tonne-km (m RTK) |
1,731 |
2,087 |
(17.0%) |
|
3,497 |
4,161 |
(16.0%) |
Available tonne-km (m ATK) |
3,341 |
2,623 |
27.4% |
|
6,315 |
5,311 |
18.9% |
Load factor (%) |
51.8% |
79.6% |
(27.7) |
|
55.4% |
78.3% |
(23.0) |
Air France
activity
|
|
Q2 |
|
|
Year to date |
Total Passenger network activity |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Passengers carried (‘000s) |
10,344 |
3,606 |
186.8% |
|
17,449 |
6,652 |
162.3% |
Revenue pax-kilometers (m RPK) |
30,995 |
9,155 |
238.6% |
|
54,082 |
17,723 |
205.1% |
Available seat-kilometers (m ASK) |
36,621 |
17,637 |
107.6% |
|
67,491 |
34,052 |
98.2% |
Load factor (%) |
84.6% |
51.9% |
32.7 |
|
80.1% |
52.0% |
28.1 |
Long-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
3,562 |
1,093 |
225.8% |
|
6,331 |
2,142 |
195.6% |
Revenue pax-kilometers (m RPK) |
25,065 |
7,017 |
257.2% |
|
44,517 |
14,010 |
217.8% |
Available seat-kilometers (m ASK) |
29,459 |
14,336 |
105.5% |
|
55,192 |
28,252 |
95.4% |
Load factor (%) |
85.1% |
48.9% |
36.1 |
|
80.7% |
49.6% |
31.1 |
Short and Medium-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
6,781 |
2,513 |
169.9% |
|
11,116 |
4,510 |
146.5% |
Revenue pax-kilometers (m RPK) |
5,930 |
2,138 |
177.3% |
|
9,565 |
3,713 |
157.6% |
Available seat-kilometers (m ASK) |
7,162 |
3,301 |
117.0% |
|
12,300 |
5,800 |
112.1% |
Load factor (%) |
82.8% |
64.8% |
18.0 |
|
77.8% |
64.0% |
13.7 |
|
|
Q2 |
|
|
Year to date |
Cargo activity |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Revenue tonne-km (m RTK) |
889 |
906 |
(1.8%) |
|
1,796 |
1,812 |
(0.8%) |
Available tonne-km (m ATK) |
1,861 |
1,268 |
46.7% |
|
3,518 |
2,602 |
35.2% |
Load factor (%) |
47.8% |
71.4% |
(23.6) |
|
51.1% |
69.6% |
(18.6) |
KLM activity
|
|
Q2 |
|
|
Year to date |
Total Passenger network activity |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Passengers carried (‘000s) |
7,212 |
2,247 |
220.9% |
|
12,049 |
3,669 |
228.4% |
Revenue pax-kilometers (m RPK) |
21,484 |
6,776 |
217.1% |
|
37,264 |
11,639 |
220.2% |
Available seat-kilometers (m ASK) |
25,077 |
18,780 |
33.5% |
|
46,777 |
35,951 |
30.1% |
Load factor (%) |
85.7% |
36.1% |
49.6 |
|
79.7% |
32.4% |
47.3 |
Long-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
2,209 |
676 |
226.8% |
|
3,823 |
1,196 |
219.7% |
Revenue pax-kilometers (m RPK) |
17,005 |
5,183 |
228.1% |
|
29,878 |
9,153 |
226.4% |
Available seat-kilometers (m ASK) |
19,827 |
16,289 |
21.7% |
|
37,333 |
31,700 |
17.8% |
Load factor (%) |
85.8% |
31.8% |
53.9 |
|
80.0% |
28.9% |
51.2 |
Short and Medium-haul |
|
|
|
|
|
|
|
Passengers carried (‘000s) |
5,003 |
1,572 |
218.3% |
|
8,225 |
2,473 |
232.6% |
Revenue pax-kilometers (m RPK) |
4,479 |
1,593 |
181.2% |
|
7,385 |
2,486 |
197.1% |
Available seat-kilometers (m ASK) |
5,250 |
2,491 |
110.7% |
|
9,443 |
4,251 |
122.1% |
Load factor (%) |
85.3% |
63.9% |
21.4 |
|
78.2% |
58.5% |
19.7 |
|
|
Q2 |
|
|
Year to date |
Cargo activity |
2022 |
2021 |
Variation |
|
2022 |
2021 |
Variation |
Revenue tonne-km (m RTK) |
842 |
1,181 |
(28.7%) |
|
1,701 |
2,349 |
(27.6%) |
Available tonne-km (m ATK) |
1,480 |
1,355 |
9.2% |
|
2,797 |
2,710 |
3.2% |
Load factor (%) |
56.9% |
87.2% |
(30.3) |
|
60.8% |
86.7% |
(25.9) |
1 Change versus 31 Dec 2021
- AFKL Q2_2022 Press release EN
Air FranceKLM (BIT:1AF)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Air FranceKLM (BIT:1AF)
Historical Stock Chart
Von Apr 2023 bis Apr 2024