Air France-KLM welcomed 24.7 million passengers, or 8.2% more than the previous year. As capacity increased by 8.3% and traffic by 11.6%, the load factor increased by 2.6 points compared to last year.
Its operating margin in Q2 was 4.4%, 1.9 point lower than in 2022.
Net profit came in at E0.6bn, supporting the restoration of the Group's equity. Adjusted free operating cash flow was also E0.6bn. The company has reduced its net debt by E1.4bn since the end of 2022, resulting in a net debt/EBITDA multiple of 1.2x.
Air France forecasts capacity in available seat-kilometres for the passenger activity of the Air France-KLM network, including Transavia, at an index of around 95% for Q3 2023, above 95% for Q4 2023 and around 95% for FY 2023.
For 2023 it now expects a single-digit increase in unit costs compared to 2022.
Management expects available seat-kilometre capacity to return to 2019 levels by 2024. Adjusted operating free cash flow, excluding exceptional items, is expected to remain positive over the medium term. It has a medium-term target of achieving an operating margin of 7% to 8%.
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