The Franco-Dutch group saw its sales rise by 13.7% compared with the same period in 2022 to €7.6 billion, boosted by an increase in passengers and higher ticket prices, achieving a “record” operational margin of 9.6%, it said in a statement.

The results were reached despite seat capacity being down 8% compared with 2019, before the pandemic.

Air France, KLM and Transavia transported a total of 24.7 million passengers between April and June, down 11% compared to the same period four years ago.

Ticket prices have soared since the pandemic driven by rising fuel costs, increased demand and capacity constraints.

Despite high inflation putting a strain on consumers’ pockets, Air France-KLM said it expects bookings for the current quarter – which includes the crucial summer holiday season – to be at the same or higher level compared with 2022.

However, inflation is affecting the group’s costs, which have risen 5.6% in the second quarter of the year, compared to just 0.7% in the first quarter.

These costs reduced operational profits by some €337 million, offsetting gains from lower fuel prices. Still, operational profits nearly doubled compared to the second quarter last year by €733 million.

Air France-KLM turned a profit last year after having lost €11 billion during the pandemic, requiring the governments of France and the Netherlands to intervene.

The company’s debt has fallen by €1.4 billion since the end of December to €4.9 billion.