Air France-KLM set to add flights after first profit since 2019

Air France-KLM plans to raise capacity closer to pre-pandemic levels by the end of the year after posting its first quarterly profit since before the health crisis. The Franco-Dutch carrier reported better-than-expected net income of E324m in the three months through June, according to a statement Friday. That’s the group’s first positive result since the end of 2019. The earnings were fueled by a surge in demand for air travel that has since overwhelmed the industry, especially in Europe where airport staff shortages and strikes have created periods of chaos at major hubs. “The strong recovery we see this summer is putting the entire aviation industry to the test,” CEO Ben Smith said. The group will pay E70m in compensation costs to travelers caught in the disruption. Air France-KLM was forced to dial back its ambitions to raise capacity in the ongoing peak summer months, but plans to do so in the last quarter of the year. The company will operate 80% to 85% of pre-pandemic flight volumes during the current period, a drop from the up to 90% forecast in May. It’s planning to reach as much as 90% in the last three months of 2022 instead. Air France-KLM had to cancel flights this month at budget carrier Transavia because of a strike, while its French arm pared back operations at its Paris hub due to labor strife. The group has also been hit by severe personnel constraints at its second hub in Amsterdam, which has capped the number of passengers that can fly through the airport. <br/>