Air France–KLM Posts KSh 181b Q3 Profit, Africa Operations Stable Amid Global Growth

Air France–KLM’s operations across Africa showed modest growth in the third quarter of 2025 with capacity rising by 1.5% as yields increased by 1.4%, leading to broadly stable unit revenue for flights to and from the continent. This was even as load factors slipped slightly to 88%. The stability on Africa routes comes on the back of a broader network expansion and underscores the Group’s sustained commitment to long-haul connectivity across emerging markets including East Africa.

Overall, the Group delivered a stable operating result of €1.2 billion  (KSh 180.5b) while total revenues reached €9.2 billion (KSh 1.38t), up 2.6% year-on-year, driven by gains across the passenger network, Transavia and the maintenance business.

Group capacity increased by 5.1%, while fuel costs (after hedging) fell by 8.9%, helping offset the negative impact of a solidarity ticket tax in France and a sharp 41% tariff rise at Schiphol Airport, both of which dampened unit revenue. Unit revenue at constant currency decreased 0.5%, whereas unit costs rose by a moderate 1.3%, reflecting continued productivity gains.

Commenting on the results, Group CEO Benjamin Smith noted that “premium cabins performed exceptionally well across Air France and KLM,” contributing to sustained yields on long-haul markets. He added that the fleet renewal programme continues apace: one third of the Group’s fleet is now next-generation aircraft, many of them quieter, more fuel-efficient and better suited to long-haul flying, a key pillar of the Group’s environmental and customer service strategy.

Cash generation remained strong with recurring adjusted operating free cash flow for the first nine months of 2025 reaching €715 million (KSh 107.6b), a €692 million leap from the previous year. The Group ended September with cash reserves of €9.5 billion (KSh 1.4t), well above its target range. Net debt rose to €7.8 billion (KSh1.2t), but the leverage ratio remained under control at 1.6×, within the Group’s target range for 2025. The Group further continued to simplify its balance sheet via redemptions of hybrid securities and strategically timed debt issuances.

The passenger network showed resilience across most regions, and while Africa recorded only modest growth, other long-haul markets such as Latin America, Asia, the Middle East, and the Caribbean–Indian Ocean region posted strong yield performance, especially in premium and long-haul cabins. Cargo operations, however, faced headwinds as capacity rose but unit revenues per ton-kilometer fell 5.1% at constant currency, primarily due to reduced demand and maintenance-related downtime for freighters.

The low-cost carrier unit, Transavia, experienced a challenging summer marked by competitive pressure in Europe and higher airport taxes, particularly in the Netherlands and France. Its unit revenue fell 2.8%, and rising operational costs tempered profitability.

In contrast, the maintenance arm of the Group continued to perform well. Third-party maintenance revenues rose 12.9%, driving a strong increase in operating profit; the maintenance business now represents an important diversification pillar, with a growing long-term order book valued at USD 10.4 billion (KSh1.3t).

Meanwhile, fleet renewal remains central to the Group’s medium-term strategy. As of end-September, 32% of the fleet comprised new-generation aircraft, up eight percentage points year-on-year. In 2025 alone, Air France–KLM took delivery of 38 next-gen aircraft, including new Airbus A220-300s delivered on sustainable aviation fuel blends. These investments support the Group’s ambition to reduce per-seat fuel consumption and CO₂ emissions, and enhance long-haul comfort, an important signal for travellers between Africa and Europe.

Following the quarter, the Group completed the acquisition of a 2.3% stake in Canada’s WestJet, thereby deepening its transatlantic partnerships and reinforcing its long-haul network offering, for a strategic step with potential positive implications for African travellers wishing to connect to North America via Europe.

Air France–KLM reconfirmed its full-year 2025 guidance including capacity growth of 4–5%, modest single-digit growth in unit costs, net capital expenditure between €3.2 and €3.4 billion (KSh480–512b), and a leverage ratio between 1.5× and 2.0×.

For East African travellers and businesses, these results signal continued investment in fleet modernisation, premium long-haul product expansion and global connectivity, all of which bode well for long-haul travel and freight links with global markets.

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