Latest news with #KLM
Kuwait Times
7 hours ago
- Business
- Kuwait Times
Air France-KLM profits take off as fuel price drops
PARIS: Air France-KLM Chief Executive Officer Benjamin Smith addresses the group's general meeting in Tremblay-en-France, north of Paris.-- AFP PARIS: Air France-KLM said Thursday its net profits quadrupled in the second quarter as fuel prices fell and it flew more passengers. The net profit of 649 million euros ($742 million) was in large part thanks to an 11 percent drop in its fuel bill. Group revenues rose by 6.2 percent to 8.4 billion euros as it carried 5.9 percent more passengers. 'Although the external environment remains complex, Air France-KLM continues to demonstrate its resilience and is well positioned to achieve its targets,' said chief executive Benjamin Smith. However higher airport taxes at Amsterdam-Schiphol where KLM is based and an increase in the airline ticket tax in France are expected to weigh on annual operating results by as much as 170 million euros. Meanwhile, Air-France-KLM said it was dropping out of the running to acquire a majority stake in indebted Spanish carrier Air Europa. Earlier this month Air France-KLM moved to acquire a majority in SAS and it is interested in acquiring a stake in TAP Air Portugal. Air France-KLM's shares rose 4.8 percent in midday trading while the Paris CAC 40 index was down less than 0.1 percent. — AFP
Yahoo
19 hours ago
- Business
- Yahoo
Air France-KLM's Q2 profit rises, helped by premium sales
By Jesus Calero and Joanna Plucinska LONDON (Reuters) -Air France-KLM reported higher second-quarter operating profit on Thursday, citing strong bookings for its premium services even as the sector frets about the knock-on effects from U.S. President Donald Trump's tariff war. Europe's major airlines have been watching for a possible dip in transatlantic travel as European travellers have shied away from booking trips to the United States this year. But Air France-KLM highlighted its strategy focused on a new first-class cabin and strong sales for its premium economy cabin, particularly for KLM. "We are advancing premiumization, pushing the boundaries of aspirational travel with enhanced products and services," Chief Executive Ben Smith said in a statement. Second-quarter operating profit rose to 736 million euros ($845 million) from 513 million euros for the same quarter last year. That was broadly in line with the 760 million euros expected in an analyst poll compiled by LSEG. The summer travel season is a key test of how well pricing power and booking trends are holding up for carriers like Air France-KLM heading into the second half of the year. Air France-KLM previously said it had cut some economy fares to remain competitive. Still, it confirmed its outlook for the full-year. ($1 = 0.8713 euros) Sign in to access your portfolio
Reuters
20 hours ago
- Business
- Reuters
Air France-KLM's Q2 profit rises, helped by premium sales
LONDON, July 31 (Reuters) - Air France-KLM ( opens new tab reported higher second-quarter operating profit on Thursday, citing strong bookings for its premium services even as the sector frets about the knock-on effects from U.S. President Donald Trump's tariff war. Europe's major airlines have been watching for a possible dip in transatlantic travel as European travellers have shied away from booking trips to the United States this year. But Air France-KLM highlighted its strategy focused on a new first-class cabin and strong sales for its premium economy cabin, particularly for KLM. "We are advancing premiumization, pushing the boundaries of aspirational travel with enhanced products and services," Chief Executive Ben Smith said in a statement. Second-quarter operating profit rose to 736 million euros ($845 million) from 513 million euros for the same quarter last year. That was broadly in line with the 760 million euros expected in an analyst poll compiled by LSEG. The summer travel season is a key test of how well pricing power and booking trends are holding up for carriers like Air France-KLM heading into the second half of the year. Air France-KLM previously said it had cut some economy fares to remain competitive. Still, it confirmed its outlook for the full-year. ($1 = 0.8713 euros)
News18
a day ago
- Business
- News18
IndiGo expands codeshare with KLM
Agency: PTI Last Updated: New Delhi, Jul 30 (PTI) IndiGo on Wednesday announced extending its codeshare agreement with the Netherlands' carrier KLM. 'The agreement will allow IndiGo to place its code on KLM operated routes to 30 destinations across these regions, via Amsterdam," it said in a release. Earlier this month, IndiGo started non-stop services from Mumbai to Amsterdam. 'In 2022, IndiGo and KLM finalised a codeshare partnership providing KLM customers with access to 24 destinations on IndiGo's network. Through this extended cooperation, IndiGo will be able to expand its reach to 30 destinations across Europe and the UK including, but not limited to, Paris, Berlin, Geneva, Madrid, Brussels, London, Helsinki, Oslo, Prague and Stockholm," the release said. The latest pact builds upon the Memorandum of Understanding between IndiGo, Delta Air Lines, Air France-KLM, and Virgin Atlantic, signed in June. view comments First Published: July 30, 2025, 21:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
2 days ago
- Business
- Business Standard
IndiGo Q1 profit down 20.5% on airspace curbs, AI171 crash fallout
IndiGo on Wednesday announced that its consolidated net profit dropped 20.5 per cent year-on-year (Y-o-Y) to ₹2,174.9 crore in the first quarter of 2025–26 due to airspace restrictions, geopolitical disruptions, and the impact of the AI171 crash, which led to widespread flight cancellations and depressed ticket yields. 'The June quarter was marked by a series of external impactful events. Geopolitical events, airspace restrictions, and the unfortunate accident in Indian aviation led to higher flight and passenger cancellations and a moderation in yields,' said Gaurav Negi, chief financial officer, IndiGo. Yield refers to the average fare paid per passenger per kilometre flown. Pakistan has shut its airspace for Indian carriers since April 24, following the terror attack in Pahalgam, Jammu and Kashmir, on April 22. Despite these disruptions, the airline carried 12 per cent more passengers during the quarter, clocking 31 million travellers — double the industry growth of 6 per cent. 'Amid a series of external challenges, we delivered a robust growth of 12 per cent in passengers served. This was double the growth of the industry, which stood at 6 per cent, highlighting the strength of our network and execution,' Negi said. The airline saw a relatively strong start to the quarter, but conditions deteriorated in May and June. 'While a large part of April performed well, May and June were marked by significant geopolitical headwinds, which led to a significant number of cancellations and did not allow normalisation of yields,' Negi said. Total income for the quarter rose 6 per cent Y-o-Y to ₹21,542.6 crore. Operationally, IndiGo inducted eight new aircraft during the quarter while making progress on reducing reliance on wet-leased planes. 'We inducted eight planes during the quarter... Further, as we mentioned in the last conference call with analysts, the number of grounded aircraft remains stable in the 40s. And with the reduction in the number of groundings, we have started returning damp leases (wet-leased aircraft) and have redelivered 16 damp-leased aircraft this quarter,' Negi said. The airline is keeping its fleet plans flexible. 'We remain open to inducting additional wet-leased aircraft based on the demand and supply situation going forward,' he added. Chief executive officer Pieter Elbers said the quarter was marked by severe turbulence, including the tragic AI171 accident and airspace curbs. The closure of many airports across northern and western India, following India's anti-terror military Operation Sindoor on May 7, forced the airline to cancel up to 170 flights a day. Elbers said the airline has begun long-haul services to Europe, launching flights to Amsterdam and Manchester in early July. Given strong demand, IndiGo will double its frequency to Amsterdam and add a fourth weekly flight to Manchester. A reciprocal codeshare with KLM will also expand the airline's reach across Europe. After debuting on the Delhi–Mumbai route late last year, IndiGo's business class product (called Stretch) has now been extended to flights to Bangkok and will soon launch on routes to Singapore and Dubai. Elbers said the market response has been encouraging, with load factors improving gradually. On the domestic front, IndiGo recently began operations from Hindon airport in Delhi and is looking to expand its network further. The airline's loyalty programme, launched late last year, has now amassed 3.8 million members. Elbers said this, combined with long-haul flying, a tailored premium product, and ongoing network expansion, positions IndiGo strongly to tap into India's aviation growth story. While acknowledging that the airline's financial performance would have been better in the absence of geopolitical and airspace disruptions, Elbers said IndiGo has demonstrated agility and resilience in the face of adversity.
