KLM Group 2025 Annual Results: Performance Stabilizes, Structural Decisions Required

In 2025, KLM Group achieved an operating result of €416 million on revenues of €13.2 billion, representing a 3.9% increase in turnover compared to 2024.

2025 Performance Highlights
- Operating result: €416 million
- Revenue: €13.2 billion (up 3.9% from 2024)
- Profit margin: 3.2%
- Q4 profit: €78 million (vs. €51 million in Q4 2024)
- Key drivers:
- “Back on Track” program boosted revenues, cut costs, and improved productivity.
- Strong Engineering & Maintenance division performance.
- Cargo delivered stable results.
- Transavia grew revenues and capacity, but profits lagged.

Operational Developments
- 14 new aircraft added to the fleet.
- Embraer E195-E2 cabins reconfigured → +capacity, –3% CO₂ per passenger.
- Record pilot recruitment and training.
- Challenges: fleet technical issues, supply chain shortages, and geopolitical tensions (e.g., Russian airspace closure).

Outlook for 2026
- Rising costs outpacing revenue growth → structural changes required.
- Focus areas:
- Strict cost control.
- More reliable operations.
- Strengthening resilience against external pressures.
- CFO Bas Brouns emphasized the need for structural decisions to ensure predictability and capacity for investment in customers, employees, and operations.

Key Takeaway
KLM has stabilized after a tough period, but the margin is thin. 2026 is positioned as a make-or-break year where deeper transformation is needed to secure competitiveness and financial health.