KLM Group Third-Quarter Results

Marjan Rintel, CEO of KLM: “Our third-quarter results reflect the dedication of our colleagues and the cost savings we've achieved together. However, these efforts have not resolved our underlying structural challenges. Fuel prices continue to put pressure on our results, our cost base remains too high, and our operations are too vulnerable for us to continue investing and competing effectively. That's why we're announcing far-reaching changes at KLM today.”

First Nine Months of 2026: Profitability Improvement Falls Short
KLM Group reported an operating profit of €526 million for the first nine months of 2026, compared to €328 million in the same period of 2025*. Revenue increased by more than 9% to €10.9 billion, while capacity grew by 4,3%.

KLM improved its adjusted operating profit compared to the same period last year, supported in part by its Back on Track improvement program, which has generated €750 million to date, and higher ticket revenue. At the same time, financial performance remains under pressure. External challenges, including those related to the geopolitical situation, have contributed to this. However, to make KLM more resilient, lasting improvements to the company's cost structure and operational performance are needed.

Bas Brouns, CFO of KLM, said: “The third quarter is traditionally our strongest. It's the time of year when we generate most of our earnings. But even under highly favorable market conditions, with strong ticket revenue and the benefits of Back on Track, our profit margin remains too low. We need to increase it to more than 8% to secure a financially healthy future for KLM.”

Business Segments: Mixed Results
KLM's Passenger business recorded strong revenue growth and higher yields over the first nine months of the year. However, flight cancellations to and from the Middle East and higher fuel costs weighed on results. Cargo delivered strong performance, supported by increased cargo capacity, stable operations, solid yields, and tight cost control. Engineering & Maintenance improved its financial performance, although global supply chain shortages continue to pose challenges for airplane maintenance activities. Meanwhile, Transavia remains under financial pressure due to intense competition on leisure routes, high fuel costs, and operational challenges.