Air France-Klm Ads (AFLYY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the Air France KLM First Quarter twenty twenty six Results Presentation. Today's conference is being recorded. During the presentation, participants will be on listen mode only and analysts will be able to ask questions by dialing 5 on their telephone keypad after this presentation. At this time, I would like to turn the conference over to Benjamin Smith, CEO and Steven Zott, CFO. Please go ahead, sirs. Thank you. Good morning, everyone, and thank you for joining us for Air France KLM's First Quarter twenty twenty six Results Presentation. I'll start by highlighting our key achievements for the quarter before handing over to our CFO, Steven Zad, who will provide a more detailed review of our financial performance. I'll return later for some closing remarks before we open the floor to your questions. Before diving into the details, I want to highlight a critical point regarding the quarter. While fuel prices have surged since the start of the Middle East conflict, this impact is not yet visible in our first quarter results due to a lag in fuel pricing. This is a vital distinction as these costs will weigh on the upcoming quarters. Overall, the first quarter represents a solid start to the year, defined by strong commercial momentum and disciplined execution in a volatile environment. We carried over 22,000,000 passengers, up 2.3% year over year, confirming that travel demand remains resilient. Furthermore, we demonstrated our agility by swiftly reallocating capacity following the suspension of services to the Near And Middle East. Group revenues rose 4.4% to €7,500,000,000 fueled by higher yields in our network activity and a strong performance in maintenance. Unit revenue grew by 3.4% at constant currency, supported by our premiumization ...