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ECONOMY: Air France-KLM reports improved quarterly results and strong passenger growth, but warns of rising fuel costs in the coming years.

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Air France-KLM grows in premium and strengthens the quarter

The airline group Air France-KLM reports a clearly improved result for the first quarter of 2026, while the company adjusts its outlook for the full year in light of a more uncertain global situation.

Camilla Jonsson Camilla Jonsson

Published 30 April 2026 - 09:24

The operating result amounted to minus 27 million euros, which is an improvement of 301 million euros compared to the same period last year. Revenues increased by 4.4 percent to 7.5 billion euros, driven by strong development in passenger traffic and higher ticket revenues. This is stated in a press release.

Fuel costs expected to increase

At the same time, the company expects fuel costs to rise during the year. The forecast for 2026 is approximately 9.3 billion dollars, which is higher than the previous year. Part of the increase is expected to be reflected in the coming quarters.

The reason the effect is not visible in the first quarter is, according to the company, due to a certain lag in pricing.

- The fuel price increases are not visible in today's results, but are expected to affect the coming quarters, says CEO Benjamin Smith.

Adjusted outlook for the full year

In light of geopolitical uncertainty, Air France-KLM is adjusting its capacity forecast for the full year. Growth is now expected to be 2-4 percent, compared to the previous 3-5 percent.

The company also expects unit costs, excluding fuel, to increase by between 0 and 2 percent.

Strong demand during the quarter

In the first quarter, 22.3 million passengers travelled with the group, an increase of 2.3 percent. Traffic increased slightly more than capacity, which raised the cabin factor to 86.3 percent.

Demand strengthened particularly in March, when reduced capacity in the industry - linked to developments in the Middle East - contributed to higher ticket prices. Long-haul routes to Asia and America, among others, developed strongly.

The premium segment also continues to contribute positively to revenues.

Focus on flexibility and cost control

The company highlights its ability to adjust capacity in a changing environment and has taken measures to manage cost developments, including through continued cost control.

Cash flow was strong during the quarter, and liquid assets amounted to 10.6 billion euros at the end of March.

Overall, Air France-KLM moves into 2026 with improved profitability, but with continued focus on managing a more volatile environment.

Air France-KLM