Air France-KLM reported a ¡°turning point¡± with earnings for the fourth quarter of 2021.
The group posted ¡°better than pre-Covid results¡± for the first time since the beginning of the pandemic.
Commenting on the Q4, 2021 earnings, Benjamin Smith, group CEO, said: ¡°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. The crisis is not over yet, but this makes us optimistic for the future, as we accelerate said efforts to improve our performance from both an economical and environmental standpoint.¡±
Air France-KLM¡¯s operating profit for Q4 came in at €178 million, higher than Q4 2019¡¯s figure.
Net income for the group was a loss of €127 million, an improvement of €874 million year-on-year. Revenue for the quarter was €4.8 billion, an increase of €2.5 billion on Q4 2020, according to the group.
In its financial statement the company said Q4 had got off to a good start but was hampered by Omicron in December with some flights also cancelled in January.