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Marjan Rintel, CEO of KLM Group, said that the airline's financial performance in 2024 was disappointing. She emphasized that strengthening the company's financial position to enable future investments is the airline's primary priority. Rintel made these remarks in a press release dated March 6.
"Our financial performance for 2024 is disappointing, especially considering that the operating result largely consists of cost savings," said Rintel. "We need to strengthen our financial position, in order to be able to make vital investments in the coming years. Therefore, this year, strengthening our financial position remains our first priority."
According to the same press release, KLM Group's operating result decreased by €234 million to €416 million in 2024, despite a 5.4% increase in revenue. The decline in profitability was attributed to rising costs for equipment, personnel, and airport fees. To address these challenges, KLM is implementing cost-saving measures announced in October, with a target of saving €450 million by 2025. The airline aims to achieve an 8% profit margin moving forward.
