Air France-Klm Ads (AFLYY) Q4 2025 Earnings Call

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WEBVTT 00:00:00.993 -- 00:00:06.740 Good morning and welcome to the Air France KLM full year 2025 results presentation. 00:00:06.740 -- 00:00:11.206 Today's conference is being recorded. During the presentation, participants will be on 00:00:11.206 -- 00:00:16.232 listen mode only, and analysts will be able to ask questions by dialing hashtag 5 on 00:00:16.232 -- 00:00:19.096 their telephone keypad after this presentation. 00:00:19.096 -- 00:00:23.902 At this time, I would like to turn the conference over to Benjamin Smith, CEO, and Stephen 00:00:23.902 -- 00:00:28.044 Zott, CFO. Please go ahead, sirs. 00:00:28.628 -- 00:00:33.416 Okay. Thank you very much for that. for your introduction, operator. 00:00:33.416 -- 00:00:37.522 So, good morning, everyone, and thank you for joining us for the presentation of Air 00:00:37.522 -- 00:00:43.391 France-KLM's four-year 2025 results. I'm joined today by Stephen Zat, Group CFO, 00:00:43.391 -- 00:00:48.439 Emily Guy, CEO of Air France, and Marianne Rintel, President and CEO of 00:00:48.439 -- 00:00:52.605 KLM, whose mandate has just been renewed for another four years. 00:00:52.605 -- 00:00:57.392 Congratulations to Marianne. I'll start with the key highlights from the year, followed 00:00:57.392 -- 00:01:01.893 by Stephen. who will walk you through our financial performance and outlook for 2026. 00:01:01.893 -- 00:01:07.199 I'll then wrap up with closing remarks on our 2028 ambitions 00:01:07.199 -- 00:01:10.521 before opening the floor for Q&A. 00:01:14.088 -- 00:01:19.055 Okay, moving on to slide three. Let me begin by recalling that we are executing our strategy 00:01:19.055 -- 00:01:23.721 in a consistent and disciplined manner across all the pillars of our strategy, and this 00:01:23.721 -- 00:01:27.427 execution is tran...