Air France-KLM Group reports 5.7% increase in full year profit, fourth quarter swings to loss

Air France-KLM Group has reported a 5.7% increase in its operating result for the full year 2023, totalling €1.7bn ($1.86bn). Its revenues were up 14% year-on-year to €30bn ($32.5bn). The Group’s 2023 full capacity was up 9%. Its cargo division Martinair reported a 6.2% capacity increase for the year though its revenues were down 29% to €2.49bn ($2.13bn). Its MRO division, Air France Industries-KLM Engineering & Maintenance, reported a 23.2% increase in revenues at €1.71bn ($1.85bn). However, its operating result was down €13 million ($14.1 million) to €150 million ($162.6 million) in 2023. The company reported that it ended the