Air France-KLM 2023 Investor day
14 Dicembre 2023 - 8:30AM
Air France-KLM 2023 Investor day
Air France-KLM 2023 Investor Day |
December 14, 2023
Air France-KLM to reinforce its European leadership
by building on a strong business profile, to offer best in class
products, accelerate transformation and deliver sustainable growth
& commitments combined with profitable results.
- Operating margin outlook revised
upwards: above 8% over the 2026-2028 period
- Inaugural credit ratings:
Investment Grade “BBB-“ by Fitch; “BB+” by S&P Global Ratings
with both Stable Outlook
|
Air France-KLM is hosting today at 2pm CET its
2023 Investor Day. On this occasion, Benjamin Smith, Chief
Executive Officer of Air France-KLM, joined by members of the
Executive Committee, will present the strategic ambitions and
financial trajectory for the next five years.
Benjamin Smith, CEO of Air France-KLM,
said: “The transformation we have embarked on since 2019
at Air France-KLM has produced solid results, enabling us to rejoin
the top tier of European leaders in the airline industry. We have
delivered on our commitments, and I am particularly proud of the
hard work carried out by all our teams to achieve these results, in
a context marked by powerful headwinds. We are now well positioned
to accelerate further and capture the full potential of our Group's
assets to deliver sustained and more profitable growth, while
achieving the ambitious targets we have set ourselves for reducing
our environmental impact.”
Air France-KLM’s Investor Day agenda
covers the following key priorities:
- Improve market positions and
increase revenue initiatives while continuing cost savings and
simplification across all businesses.
- Lead the way in sustainable
aviation by reaffirming its 2030 targets and supporting the
development of SAF production capabilities around the world,
through offtake agreements and direct investments.
- Focus further on Transavia’s growth
and unit cost reduction to secure its number one position as LCC in
the Netherlands and in Paris and capture the full potential of
Paris-Orly network.
- Maximise customer satisfaction and
loyalty through superior service and enhanced operational
excellence.
- Expand the revenue contribution of Flying Blue, through growth
prospect and higher value proposition to customers with airline
partners and targeted enlargement of the non-airline
partnerships.
- Consolidate the Engineering &
Maintenance market position as a world-leading multi-product
profitable provider.
- Position the Cargo business as
leader in sustainable airfreight, while delivering best-in-class
customer experiences.
- Strengthen and develop the Group’s
alliances and partners’ network and explore new growth
opportunities through strategic consolidation.
Through disciplined capital allocation and a
focused capital expenditures program, Air France-KLM will continue
to invest in fleet renewal and maintenance to improve its economic
performance and reduce its C02 emissions and noise pollution. For
such, the Group estimates net capital expenditures of €3.0 to 3.5
billion per year between 2024 and 2026, and €3.5 to 3.8 billion per
year in 2027 and 2028.
Based on a further acceleration of its transformation program
and an enhanced cost effectiveness, the Group’s operating result is
expected to improve by €2.0 billion over the next five years across
all businesses.
The Group confirms its 2024-2026 outlook
and sets the following targets for the 2026-2028
period:
- A further
profitability increase, with an operating margin above 8%;
- A further unit cost
reduction, thanks in particular to the acceleration of the
transformation program;
- A continued
improvement on cash generation, to deliver a significantly positive
adjusted operating free cash-flow;
- A continued
optimization of the Group’s financial profile, with long-term
credit ratings at investment grade level.
Air France-KLM today announces two inaugural long-term
issuer credit ratings:
- Investment Grade “BBB-“ with Outlook Stable by
Fitch
- “BB+” with Outlook Stable by S&P Global
Ratings
Air France-KLM is now rated Investment Grade
with a “BBB-“ with a Stable Outlook by Fitch and with a “BB+” with
a Stable Outlook by S&P Global Ratings. This solid outcome is
the testimony of the Group’s robust operational performance, a
notably improved financial structure with a solid liquidity and
strong recovery following the Covid-19 pandemic.
Both agencies have highlighted that Air
France-KLM is one of the largest global airline groups with leading
positions at major hubs, benefitting from one of the world’s
largest and most diversified network as well as a full service
offering with MRO and Cargo businesses combined.
***
The live event will start at 2:00pm CET and can
be accessed via the following link:
https://www.yuca.tv/en/air-france-klm/investor-day-2023
Documentation will be available on the Air
France-KLM website (www.airfranceklm.com) on December 14, 2023,
from 8.30am CET.
Investors Relations
Michiel
Klinkers
Marouane
Mami
michiel.klinkers@airfranceklm.com
marouane.mami@airfranceklm.com
Website: www.airfranceklm.com
Website: www.airfranceklm.com
- PR - Air France-KLM Investor day
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