Air France-KLM Sees ‘Significant Increase’ in Corporate and Premium Traffic in Q1
Carrier reports strong recovery in March despite challenges >>
by: Harvey Chipkin
Air France-KLM saw a “significant increase” in demand for corporate and premium traffic, according to Benjamin Smith, CEO, in a first quarter earnings statement. The company’s performance during the period, he said, “confirms that recovery is here.” In spite of challenging circumstances, with the continued effect of the Omicron variant, war in Ukraine and a sharp increase in fuel prices, said Smith, the company posted a positive EBIDTA (earnings before interest, depreciation, taxes and amortization) and recorded strong bookings for the future. In the quarter, Air France-KLM reported positive EBIDTA of 221 million euros (about $234 million) with a net loss of 552 million euros (about $583 million), a 930 million-euro (about $982 million) improvement over the same period in 2021. Revenues were 4.445 million euros (about $4.7 million), 2,284 million euros (about $2.4 million) higher than last year. Air France-KLM reported first quarter capacity of 75% of 2019 levels for the same period with yield above 2019 levels. March’s long-haul load factor was 80% for both premium and economy plus classes.
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