Q1 2026 Air France KLM SA Earnings Call Transcript

Apr 30, 2026 / 07:30AM GMT

Release Date Price: $10.85

Transcript

Key Points

Positve

Air France-KLM (AFLYY) reported a strong start to 2026 with a 4.4% increase in group revenues, reaching EUR7.5 billion.
The company successfully carried over 22 million passengers, marking a 2.3% year-over-year increase, indicating resilient travel demand.
Operating results improved significantly to negative EUR27 million, a EUR301 million improvement compared to the previous year.
Fleet modernization efforts are progressing, with next-generation aircraft now comprising 36% of the total fleet, an eight-point increase year-over-year.
The transition of Air France's Orly-based routes to Transavia France has been executed seamlessly, improving operational efficiency and commercial traction.

Negative

The ongoing Middle East conflict has led to higher spot fuel prices, which are expected to impact future quarters.
Despite strong performance, the full financial impact of the current crisis is not yet reflected in the results.
Air France-KLM (AFLYY) anticipates challenges in fully offsetting the impact of higher fuel prices in upcoming quarters.
The company has slightly downgraded its capacity growth forecast due to the volatile fuel price environment.
There are concerns about potential jet fuel shortages, particularly in Asia, which could affect operations in the future.

Operator

Good morning, and welcome to the Air France-KLM first-quarter 2026 results presentation. Today's conference is being recorded.

(Operator Instructions)

At this time, I would like to turn the conference over to Benjamin Smith, CEO; and Steven Zaat, CFO. Please go ahead, sir.

Benjamin Smith

Air France KLM SA - Chief Executive Officer, Member of the Executive Committee, Director

Thank you. Good morning, everyone, and thank you for joining us for Air France-KLM's first-quarter 2026 Results Presentation. I'll starts by highlighting our key achievements for the quarter before handing over to our CFO, Steven Zaat, who will provide a more detailed review of our financial performance. I'll return later for some closing remarks before we open the floor to your questions.

Before diving into the details, I want to highlight a critical point regarding the quarter. While fuel prices have surged since the start of the Middle East conflict, this impact is not yet visible in our first-quarter results due to a lag in fuel pricing. This is a vital

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