Air France-KLM reported a 71% year-on-year drop in second-quarter earnings to €190 million, even as revenue rose 9.9% to €9.27 billion. Adjusted operating profit for the period fell by roughly a third to €484 million, pressured by elevated fuel expenses.
The airline group trimmed its full-year capacity growth forecast to 2%–3%, down from the prior 2%–4% range, and projected 2026 fuel costs of $8.9 billion. Passenger numbers grew 3.9% to 28.3 million, while group capacity expanded 2.6%. Over the first half, the company posted a net loss of €61 million, despite revenue climbing 7.4% to nearly €16.8 billion.
Separately, Air France-KLM submitted a binding offer for a 44.9% stake in TAP Air Portugal as part of the carrier's privatization process, with Lufthansa also lodging a rival bid. The Air France-KLM proposal envisages an alliance with Delta Air Lines.