Air France-KLM fourth-quarter corporate revenue was 75 percent of 2019 Q4 levels, one percentage point below where it had been in the third quarter, according to a company earnings presentation. Corporate traffic ticked up a percentage point to 62 percent of 2019 levels for the quarter.
“Solid” corporate traffic recovery coupled with strong summer demand and a strong performance in premium cabins let to a full-year yield above that from 2019, according to the company. During the fourth quarter, Air France-KLM saw good performance of the business cabin for Air France and of the premium economy cabin for KLM for its North Atlantic segment, it said.
The company also saw strong corporate recovery in all areas of Africa, driven by East and South Africa for KLM and West and Central African countries for Air France.
“In spite of the omicron [Covid-19] strain, the war in Ukraine, the inflationary situation and the operational disruptions at major international airports last summer, our group and its airlines were able to successfully capture a strong demand for travel,” Air France-KLM Group CEO Benjamin Smith said in a statement.
Q4, 2022 Metrics
Air France-KLM reported fourth-quarter 2022 revenue of €7.13 billion (US$7.62 billion), up 47.3 percent from a year prior. Full-year revenue was €26.39 billion, an increase of 84.4 percent year over year. Net income was €496 million for the quarter and €728 million for the year.
Full-year 2022 capacity was 85 percent of 2019 levels, with a load factor of 84 percent, according to the company.
Air France-KLM carried nearly 21 million passengers in Q4 and more than 83.3 million for the full year, up about 32.2 percent and 86.5 percent year over year, respectively.
Capacity guidance for the first and second quarters is between 90 percent and 95 percent of 2019 levels, with capacity above 95 percent for the second half of the year, according to the company.
Air France-KLM Q3 results