Relatively good results for KLM in 2019 anniversary year
KLM’s revenues increased by 1.7%, rising to over EUR 11 billion in 2019, a new record. The KLM Group also broke a second record in its centenary year, carrying more than 44 million passengers, with KLM welcoming 35 million and Transavia 9 million.
KLM’s operating income amounted to EUR 853 million, with a margin of 7.7%. Owing to higher fuel costs and a challenging cargo market, this result was lower than that achieved in 2018.
Thanks to our good operating results, we were able to invest more than EUR 1.3 billion in customers, staff, fleet, digitisation, lounges and other facilities in 2019, as was the case in 2018. We also further reduced our net debt and strengthened our equity capital position. Customer satisfaction was high once more, with an average Net Promoter Score (NPS) of 41 for the year. We are proud of and deeply grateful for the loyalty of our customers.
Our results reflect our investment in innovation and sustainability, as well as the hard work of all KLM staff. For this I thank all KLM colleagues whole-heartedly!
There is uncertainty about growth outlook at Schiphol, declining results compared to 2018 and the ongoing Coronavirus outbreak, confirming once more how sensitive our industry is to geopolitical and other factors beyond our control. We must therefore continue to focus on our costs, our agility in making changes and the improvement of our margins, so that we can pursue our ambitious investment programme for the benefit of our customers and the future of our company.
KLM President & CEO Pieter Elbers