Air France-KLM benefits from ticket revenue
Air France-KLM Group experienced a 71% decline in net profits during the second quarter of 2026, reaching €190 million, primarily due to a rise in fuel costs exceeding €800 million, driven by the war in the Middle East. Nevertheless, the group managed to offset approximately 85% of the impact from higher fuel expenses through fare increases and enhanced revenue from long-haul, premium, and cargo flights, which helped it achieve operating results surpassing analyst expectations. Revenues grew by 9.9% to €9.28 billion, while the number of passengers increased by 3.9% to 28.3 million, with an average operating margin of 5.2%. The company also benefited from strong demand for direct flights and Asian markets, and its air cargo segment saw a revenue increase of 25.7%, driven by higher demand for certain products such as semiconductors. Despite fuel costs rising to $8.9 billion in 2026, the group managed to mitigate the impact through hedging and fleet efficiency improvements. It also plans to increase its stake in the Scandinavian airline SAS and potentially acquire a stake in Portuguese airline TAP Air Portugal to strengthen its presence in Europe.
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