Air France-KLM slips to loss in Q4 but sees growth capacity in 2024
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European airline major Air France-KLM reported a fourth-quarter loss of €256 million ($278 million) on Thursday, compared to the prior year's profit of €496 million.
The company, which includes low-cost brand Transavia, said the latest results were impacted by the geopolitical situation in the Middle East and an increase of the unit cost, although that was partly compensated by a lower jet fuel price.
Earnings before interest, taxes, depreciation and amortization (EBITDA) fell 24% to €601 million from €786 million.
In the fourth quarter, revenues were up 3.9% to €7.41 billion from last year's €7.13 billion.
Revenues grew 6.7% at a constant currency rate.
In the quarter, Air France-KLM welcomed 22.3 million passengers, 6.4% above the previous year.
Capacity increased 6% and traffic grew 5.3% while load factor - the percentage of available seating that has been filled - was at 85.3%, down 0.6 percentage points compared to last year.
Looking ahead, the company expects capacity measured by the available seats on any given aircraft multiplied by the number of kilometres flown to increase by 5% in 2024.
