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HomeAir-France KLM Group soars towards pre-pandemic levels, expects Full Recovery by 2024

Air-France KLM Group soars towards pre-pandemic levels, expects Full Recovery by 2024

Air-France KLM group airline expects Available Seats per Kilometer (ASK) among its airlines to return to 2019 levels from 2024.

This follows an increase in passenger capacity in the second half of 2023 by 8.2 per cent or 24.7 million passengers across its airlines compared to the same review period in June 2022. The percentage increase was at 88 per cent of 2019 levels.

According to the group’s half-year results, as the capacity increased by 8.2 per cent and the passenger traffic grew by 11.6 per cent, the load factor increased by 2.6 points compared to last year, marking a significant step towards the airline’s recovery and growth journey.

Giving his remarks on the performance and 2024 projections, AFKLM General Manager for East and Southern Africa, Nigeria, and Ghana Marius van der Ham said,

“We are thrilled to see our airlines rebounding with such resilience after the turbulent times brought about by the Covid-19 pandemic. Our commitment to innovation and adaptability has been pivotal in this journey. As we continue to invest in technology, customer experience, and sustainable aviation, we are confident that by 2024, we will recover to 2019 levels and set new standards for the industry. This remarkable growth in passenger capacity and improved load factor is a testament to our team’s dedication and hard work and the unwavering trust of our passengers.”

For the third and fourth quarters of 2023, the group expects to register approximately 95 per cent capacity in Available Seat Kilometers to 128.69 million, a 13 per cent increase from the 114.26 million reported in 2022. In Africa, the ASK is expected to rise to 14.74 million, up from 13.14 million registered in 2022. To do this, the Group remains agile in optimizing fleet, workforce, network, and costs and continues its sustainability efforts.

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With increased passenger traffic, the group saw its net income for the review period grow by 88 per cent to KES 96.04 billion from KES 51 billion registered within the same review period in 2022. The revenues from ordinary activities went up 14 per cent to KES 1.19 trillion, driven by a higher capacity (+8 per cent), a higher passenger load factor (+3 points), and a higher passenger yield (+9 per cent).

“Despite the inflationary context, we posted double-digit revenue growth and a record operating margin. The rollout of new award-winning products across our airlines continued unabated, which serves as a testament to the commitment of our employees, whom I would like to thank. Moving forward, we intend to continue delivering on our strategic roadmap and leverage secured ambitious partnerships in the field of sustainability that will prepare us for our medium to long-term future.” Said Marius van der Ham

Moving into 2023, the group seeks to enhance its transformation efforts, including fleet renewal and spending optimization, to compensate for the inflationary cost pressure. This will see it decrease its unit cost in the 2024-2026 year over year against a constant fuel price.

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