The group ended 2021 with a pre-tax profit of €745 million, compared with a loss of €1.69 billion in 2020. In the fourth quarter, profits hit €827 million, compared with a deficit of €409 million year on year. Full year passenger numbers were 44.7 million, up 31%.
It said: “The recovery was visible since June which continued in the second semester and thanks to less tight travel restrictions, the group was able to capture the recovery in a profitable way.”
Group chief executive Benjamin Smith added: “The fourth quarter 2021 marked a turning point for Air France KLM.
“For the first time since the beginning of the pandemic, the group posted better than pre-Covid results, with a positive operating result.
“While the end of the quarter saw the return of travel restrictions along with the Omicron variant, the overall performance reflects both the pent-up demand for travel and the outcome of our transformation efforts.”
He added: “The crisis is not over yet, but this makes us optimistic for the future.”
The group ended 2021 with net debts of €8.2 billion, a decrease of €2.8 billion.
During the quarter, KLM and budget brand Transavia ordered 100 Airbus A320 family aircraft with purchase rights for another 60.
