Air France-KLM achieved a historic €2 billion operating profit in 2025, the first time exceeding this threshold, as revenue grew 4.9% to €33 billion. The Franco-Dutch carrier carried 102.8 million passengers, while falling fuel costs contributed €394 million to earnings improvement. Air France posted a 6.7% margin, outperforming KLM's 3.2% despite restructuring efforts.

The airline group missed a critical sustainability target tied to its green bonds, achieving only a 4.6% greenhouse gas reduction versus the required 10%. This failure triggers a €750 redemption premium per bond and adds €7.5 million in costs. Supply chain delays, engine issues, and geopolitical disruptions hampered fleet renewal efforts.

KLM absorbed a 41% increase in Schiphol airport tariffs, widening the performance gap between the two airlines. With net debt at €8.39 billion and new generation aircraft at 35% of the fleet, the group faces challenges meeting its 2030 sustainability goals while managing structural differences between its airline operations.