EURONEXT-PAR$AFLYY
Air France-KLM · Q2 2026 earnings
Q2 2026 earnings · · Investor relations
Briefing
Air France-KLM reported Q2 2026 results with revenues up 9.9% to €9.3 billion despite fuel cost pressures.
Air France-KLM delivered Q2 2026 results showing revenue growth of 9.9% year-over-year to €9.277 billion, driven by strong unit revenues and demand in passenger and cargo segments. Adjusted operating profit reached €484 million with a 5.2% margin, down from the prior year due to higher fuel prices, while net income was €190 million. The company maintained solid cash positions and updated its FY2026 capacity outlook.
- Group revenues increased 9.9% to €9.277 billion, with unit revenue up 8.7% at constant currency.
- Adjusted operating profit of €484 million (5.2% margin), impacted by €804 million fuel price increase.
- Net income of €190 million for the quarter.
- H1 recurring adjusted operating free cash flow at €928 million; leverage at 1.6x with €10.3 billion cash at hand.
Headline financials
Revenue & EPS history
Air France-KLM · Revenue · Quarterly
€10.6B
Forward guidance
FY2026 capacity outlook revised to +2% to +3% vs 2025; unit cost guidance unchanged at 0% to +2%.
Tailwinds
- Strong commercial performance and premiumization driving unit revenue growth.
- Fuel price recapture rate of circa 85% via revenues.
Headwinds
- Geopolitical pressures increasing fuel costs.
- Revised lower capacity growth range.
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