Air France-KLM Group's corporate segment in December 2021 reached about half the volume of 2019, according to a presentation that accompanied the airline's fourth-quarter earnings call Thursday. Full-year 2021 corporate volume totaled about 30 percent of 2019, according to the carrier.
The business recovery trend was driven by long-haul routes after a partial relaxation of travel restrictions and the reopening of U.S. borders, according to the company. A graph showing corporate long-haul revenue showed a steady increase between February and August, then a drop-off around the time the Covid-19 delta variant started to spread, with a steeper recovery line from September through December.
The Covid-19 omicron variant, however, hampered short- and medium-haul traffic at the end of 2021 and into 2022 because of "travel restrictions set by several corporations," increasing work-from-home policies and the self-isolation of individuals. That trend, however, recently reversed, and small and midsize enterprises again are showing positive momentum. In addition, Air France-KLM noted that several major multinational companies are starting to or planning to resume travel.
Air France-KLM reported fourth-quarter 2021 revenue of €4.8 billion, more than double that of Q4 2020 (representing a 104.7 percent increase), but still down from the €6.6 billion reported in Q4 2019. Quarter-over-quarter revenue increased €1 billion. Full-year 2021 revenue was €14.3 billion, a 29.1 percent year-over-year increase.
Q4 capacity was down 26 percent compared with Q4 2019 at 60 million available seat kilometers, but it was up 62 percent year over year from 37 million ASKs. Full-year 2021 capacity reached 72 percent of 2019 levels. Air France-KLM anticipates first-quarter 2022 capacity within a range from 73 percent to 78 percent versus Q1 2019.
The company reported a net loss for the quarter of €127 million and €3.3 billion for the full year, year-over-year improvements of €874 million and €3.8 billion, respectively.
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