Air France-KLM Reports Q3 2026 Profit Rise

Air France-KLM reported adjusted operating profit of €1,346 million in the third quarter of 2026, up €126 million from the same period in 2025. The increase was attributed to strong revenue growth and disciplined cost management.

Group revenues rose 7.6% year-on-year to €9.9 billion, with unit revenue up 7.0%. Passenger revenue grew 6.9%, while cargo revenue increased 21.9%, driven by strong demand and commercial execution.

Fuel prices rose, with a €436 million impact after hedging in Q3 compared to the previous year. However, higher fuel costs were more than offset by revenue growth and stable unit costs, which increased by 0.1%.

KLM announced additional structural measures to improve operational and financial performance. The Group’s leverage ratio remained at 1.6x, in line with its target range of 1.5x to 2.0x.

Cash on hand totaled €10.5 billion at the end of September 2026, up €1.0 billion from the previous year. The Group also reported a positive recurring adjusted operating free cash flow of €1,354 million for the first nine months of 2026.

The Group updated its 2026 outlook, expecting capacity to increase by around 2% compared to 2025. Unit costs are projected to rise by 1%, including 0.5% from premiumization. Net capital expenditures are expected to remain below €3 billion.