European airline group combining Air France, KLM and Transavia, with passenger travel, cargo and aircraft maintenance operations.MoreShow less
Profile & Fundamentals
Air France-KLM (AF.PAR) Profile & Fundamentals
Review Air France-KLM reported earnings, valuation, balance sheet and ownership, with source tables and separate AI assessments.
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Company and Market Context
Air France-KLM: Company Profile & Ownership
Air France-KLM SA, together with its subsidiaries, provides passenger and cargo transportation services. The company operates through Network, Maintenance, Transavia, and Other segments. It also offers airframe and engine maintenance, and component support services, including electronic, mechanical, pneumatic, hydraulic, and other services. The company provides its services under the Air France, KLM, and Transavia brand names. It operates in France, rest of Europe, North Africa, the Caribbean, West Indies, French Guyana, Indian Ocean, Africa, the Middle East, North America, Mexico, French Polynesia, South America, Asia, and New Caledonia. Air France-KLM SA was founded in 1919 and is headquartered in Paris, France.
Company profile record
Air France-KLM SA
Common Stock · Industrials · Passenger Airlines
Company
- Company / asset
- Air France-KLM SA
- Security type
- Common Stock
- Sector
- Industrials
- Industry
- Passenger Airlines
- HQ
- 🇫🇷 France
- Head office
- 7, rue du Cirque, Paris, France, 75008
Leadership & scale
- Chief executive
- Mr. Benjamin M. Smith
- CEO year born
- 1971
- Full-time employees
- 80.4K
- Fiscal year end
- December
Fundamentals snapshot
- Market Cap
- EUR 3.6B
- P/E
- 3.2x
- Revenue (Q2 26)
- EUR 9.3B
- Profit (Q2 26)
- EUR 154.0M
- Dividend Yield
- --
- Revenue (FY 25)
- EUR 33.0B
- Shares in public float
- 189.1M
- Insider ownership
- 54.36%
Reporting & identifiers
- Symbol
- AF.PAR
- Listing
- 🇫🇷 France | Dividend Tax: 25%
- Ticker Currency
- EUR
- Income Statement Currency
- EUR
- Balance Sheet Currency
- EUR
- Cash Flow Currency
- EUR
- EPS Currency
- EUR
- Contract Type
- SPOT
- ISIN
- FR001400J770
- Asset ID
- equity_7e060dd4-2db5-50e4-9c73-35c1c9b5ced6
Air France-KLM: Ownership
Shares Outstanding
Latest: 262.6M | Max: 276.8M | Min: 105.3M
Latest reported ownership snapshot
Float Shares
72.00%
189.1M latest reported shares
Insider Ownership
54.36%
Latest reported insider stake
Short Float
--
Latest reported short interest / float
Source tablesView ownership tables
Shares Outstanding
Annual reported shares outstanding; up to 10 reporting dates.
Scroll the table to see every column.
| Reporting date | Shares outstanding |
|---|---|
| 2017-01-01 | 106,746,000 |
| 2018-01-01 | 105,263,200 |
| 2019-01-01 | 106,694,300 |
| 2020-01-01 | 107,008,700 |
| 2021-01-01 | 146,808,500 |
| 2022-01-01 | 128,466,400 |
| 2023-01-01 | 186,491,900 |
| 2024-01-01 | 262,658,200 |
| 2025-01-01 | 276,833,000 |
| 2026-01-01 | 262,621,700 |
Top Holders
Available reported ownership records.
No reported records are available in this preview.
Air France-KLM: Earnings, Profitability & Valuation
Latest Financials Filed On
Cash Flow: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Income Statement: EUR→USD conversion reference as of . Historical periods use their own dated rates.
Earnings & Revenue
Earnings and Revenue Trajectory
AI Review
The airline presents a striking contrast between booming passenger sales and volatile bottom-line profits. In fiscal 2025, robust global travel appetite drove annual revenue to EUR 33.0 billion and produced a healthy operating profit of EUR 2.04 billion. However, recent quarters show how quickly higher expenses can eat into earnings. Even as second-quarter 2026 revenue climbed nearly 10%, net profit dropped sharply as elevated jet fuel expenses took a heavy toll. Dynamic ticket surcharges recover most fuel increases, but profits will remain erratic until energy markets calm.
The airline presents a striking contrast between booming passenger sales and volatile bottom-line profits. In fiscal 2025, robust global travel appetite drove annual revenue to EUR 33.0 billion and produced a healthy operating profit of EUR 2.04 billion. However, recent quarters show how quickly higher expenses can eat into earnings. Even as second-quarter 2026 revenue climbed nearly 10%, net profit dropped sharply as elevated jet fuel expenses took a heavy toll. Dynamic ticket surcharges recover most fuel increases, but profits will remain erratic until energy markets calm.
Revenue, Net Income, and Free Cash Flow
Latest: EUR 33.0B | Max: EUR 33.0B | Min: EUR -7.0B
Valuation
P/E Ratio (TTM)iPublished valuation snapshots use the earnings basis recorded with each observation. Source tables retain that basis.
Latest: 2x
Profitability & Margins
Margins and Operating Efficiency
AI Review
Profit margins illustrate the powerful push-and-pull between premium customer pricing and uncontrollable operating costs. Operating margin reached 6.17% in 2025 thanks to strong international business bookings and post-pandemic travel enthusiasm. That progress stalled in 2026 as expensive jet kerosene rapidly compressed quarterly margins toward 5.2%. Lucrative business class seating and loyalty program partnerships provide crucial defense, but rising airport fees and European green fuel mandates keep profit margins thin. Sustainable margin expansion requires oil prices to moderate and modern aircraft efficiencies to take hold.
Profit margins illustrate the powerful push-and-pull between premium customer pricing and uncontrollable operating costs. Operating margin reached 6.17% in 2025 thanks to strong international business bookings and post-pandemic travel enthusiasm. That progress stalled in 2026 as expensive jet kerosene rapidly compressed quarterly margins toward 5.2%. Lucrative business class seating and loyalty program partnerships provide crucial defense, but rising airport fees and European green fuel mandates keep profit margins thin. Sustainable margin expansion requires oil prices to moderate and modern aircraft efficiencies to take hold.
Profitability Margins
Latest: 11.9% | Max: 33.6% | Min: -63.4%
Latest Profitability Ratios as of 2025-12-31
Gross Margin
11.9%
Gross profit / revenue
Operating Margin
6.2%
Operating income / revenue
Net Margin
4.8%
Net income / revenue
FCF Margin
0.3%
Free cash flow / revenue
Source tablesView earnings, profitability & valuation tables
Revenue, Net Income, and Free Cash Flow
Annual reported results, using the source statement's recorded USD conversion. Up to 10 reporting periods; missing values are not estimated.
Scroll the table to see every column.
| Period end | Revenue (USD) | Net income (USD) | Free cash flow (USD) |
|---|---|---|---|
| 2016-12-31 | 26,336,760,000 | 839,520,000 | 177,020,000 |
| 2017-12-31 | 30,682,960,000 | -326,060,000 | 697,340,000 |
| 2018-12-31 | 30,227,100,000 | 466,260,000 | 1,087,560,000 |
| 2019-12-31 | 30,451,680,000 | 324,800,000 | 585,760,000 |
| 2020-12-31 | 13,527,360,000 | -8,570,500,000 | -6,008,500,000 |
| 2021-12-31 | 16,319,100,000 | -3,724,380,000 | -761,520,000 |
| 2022-12-31 | 28,240,510,000 | 778,960,000 | 2,015,880,000 |
| 2023-12-31 | 33,020,900,000 | 1,027,400,000 | -468,600,000 |
| 2024-12-31 | 32,717,360,000 | 329,680,000 | -241,280,000 |
| 2025-12-31 | 38,618,190,000 | 1,863,810,000 | 134,550,000 |
Published P/E Ratio
Published valuation snapshots retain each observation's earnings basis.
Scroll the table to see every column.
| Period end | P/E (times earnings) | Earnings basis |
|---|---|---|
| 2025-12-31 | 2 | Trailing four quarters |
| 2024-12-31 | 6.7 | Trailing four quarters |
| 2023-12-31 | 3.1 | Trailing four quarters |
| 2022-12-31 | 0.2 | Annual net income |
Profitability Margins
Matching annual reporting dates. Values are percentages.
Scroll the table to see every column.
| Period end | Gross margin (%) | Operating margin (%) | Net margin (%) | Free cash flow margin (%) |
|---|---|---|---|---|
| 2016-12-31 | 31.95 | 4.49 | 3.19 | 0.67 |
| 2017-12-31 | 33.52 | -1.63 | -1.06 | 2.27 |
| 2018-12-31 | 33.65 | 4.98 | 1.54 | 3.6 |
| 2019-12-31 | 31.98 | 3.71 | 1.07 | 1.92 |
| 2020-12-31 | 0.01 | -41.88 | -63.36 | -44.42 |
| 2021-12-31 | 21.66 | -11.46 | -22.82 | -4.67 |
| 2022-12-31 | 30.2 | 3.09 | 2.76 | 7.14 |
| 2023-12-31 | 20.55 | 5.59 | 3.11 | -1.42 |
| 2024-12-31 | 15.85 | 4.66 | 1.01 | -0.74 |
| 2025-12-31 | 11.94 | 6.17 | 4.83 | 0.35 |
Public data excerpt created by iPulse AI and published by Future Edge Group FZE. Snapshot retrieved 2026-11-05.
Use is subject to the iPulse AI Terms of Service and applicable source rights. Missing inputs are not estimated. Full access includes the remaining records, research and interactive tools.
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