Air France-KLM

AF: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Air France-KLM: Pricing Resilience Supports a 10% Fair Value Estimate Increase

Loredana Muharremi

Sep 15, 2026

Air France-KLM’s second-quarter revenue rose 9.9% to EUR 9.3 billion. Adjusted operating profit fell by EUR 251 million to EUR 484 million as a EUR 804 million fuel headwind reduced the operating margin by 3.5 percentage points to 5.2%.

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Air France-KLM

Air France-KLM: Pricing Resilience Supports a 10% Fair Value Estimate Increase

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