Air France-KLM Group has reported a return to profit for 2022, along with its highest fourth-quarter revenues in history.
The airline group flew 83.3 million passengers last year, which was 86.5% above the number reported in 2021.
Net income was €728 million, compared to a loss of more than €3 billion in 2021.
Group revenues for 2022 were €26.4 billion, up 84% year on year, driven by an increase in capacity, load factor and passenger yield.
In Q4 2022, revenues were up 47% year on year to €7.1 billion, – a record level, “despite a difficult context”, said the airline group.
More: Southall Travel joins Air France KLM sustainable aviation fuel scheme
Benjamin Smith, group chief executive, said: “Throughout 2022, Air France-KLM once again demonstrated its resilience and agility in a context of unprecedented crises.
“In spite of the Omicron 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.
“On the financial side, we successfully undertook major operations to both restore our equity and consolidate our balance sheet while continuing to pay back the state aids we received.
“All the while, we moved forward with our transformation efforts at every level of our group to emerge stronger and more efficient from the pandemic as a leader of sustainable aviation.
“We close out the year with a positive net income, having turned the page on Covid, and look to the future with confidence in our ability to address the challenges ahead.”
The results statement said that Air France-KLM is confident that the recovery will continue and it expects capacity to reach 95%-100% of 2019 levels by the end of 2023.
As well as Air France and KLM, the group includes low-cost Dutch carrier Transavia.
Meanwhile, KLM cautioned that it will be facing several uncertainties in 2023.
“Geopolitical tensions, inflation, a possible recession, and the high price of fuel could all impact its financial performance,” the Dutch carrier said.
Chief executive Marjan Rintel said: “Major challenges remain, but the 2022 results give us reason to be cautiously optimistic.
“The Dutch are eager to continue flying and we see more people travelling worldwide. At the same time, we have uncertainties to reckon with, such as inflation, the price of fuel and scarcity in the labour market.
“We will continue to invest in customer products and services in the years ahead, with an emphasis on sustainability, but we can only do so if we exercise systematic cost control. This is how we can prepare KLM for the future and offer our customers memorable experiences.”