Air France-KLM Cash Flow Statement

Financials in millions EUR. Fiscal year is January - December.

Millions EUR. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	1,593	317	934	728	-3,292
Depreciation & Amortization	3,078	2,655	2,471	2,516	2,513
Other Amortization	170	167	159	181	-
Loss (Gain) From Sale of Assets	-43	-44	-63	-91	-8
Asset Writedown & Restructuring Costs	12	-6	-108	-195	432
Loss (Gain) on Equity Investments	-14	19	-7	-12	27
Stock-Based Compensation	2	3	33	-	-
Provision & Write-off of Bad Debts	-31	-48	-18	-76	25
Other Operating Activities	15	912	652	-304	227
Change in Accounts Receivable	-165	163	-330	-146	-239
Change in Inventory	-52	-111	-135	-155	-41
Change in Accounts Payable	154	148	-23	570	395
Change in Unearned Revenue	168	257	128	1,092	227
Change in Other Net Operating Assets	168	-936	-87	574	1,268
Operating Cash Flow	5,055	3,496	3,606	4,682	1,534
Operating Cash Flow Growth	44.59%	-3.05%	-22.98%	205.22%	-
Capital Expenditures	-4,449	-3,728	-3,551	-2,798	-2,202
Sale of Property, Plant & Equipment	1,391	678	867	880	899
Cash Acquisitions	-50	-92	-7	-3	-4
Divestitures	24	32	-	-1	75
Investment in Securities	56	52	-540	-59	-9
Other Investing Activities	179	290	214	2	2
Investing Cash Flow	-2,849	-2,768	-3,017	-1,979	-1,239
Long-Term Debt Issued	1,819	1,791	2,223	1,155	1,943
Long-Term Debt Repaid	-2,884	-3,008	-4,492	-4,244	-2,543
Net Debt Issued (Repaid)	-1,065	-1,217	-2,269	-3,089	-600
Issuance of Common Stock	494	-	2,753	2,349	1,024
Repurchase of Common Stock	-802	-	-596	-1,767	-
Common Dividends Paid	-81	-71	-152	-252	-
Dividends Paid	-81	-71	-152	-252	-
Other Financing Activities	-837	-826	-725	3	-501
Financing Cash Flow	-2,291	-2,114	-989	-2,756	-77
Foreign Exchange Rate Adjustments	-30	34	-42	22	14
Net Cash Flow	-115	-1,352	-442	-31	232
Free Cash Flow	606	-232	55	1,884	-668
Free Cash Flow Growth	-	-	-97.08%	-	-
Free Cash Flow Margin	1.84%	-0.74%	0.18%	7.14%	-4.67%
Free Cash Flow Per Share	2.16	-0.88	0.28	9.70	-11.54
Cash Interest Paid	670	664	704	586	563
Cash Income Tax Paid	136	20	114	-41	-55
Levered Free Cash Flow	519.38	-342.5	782.63	2,176	-1,397
Unlevered Free Cash Flow	911.25	51.88	1,158	2,532	-1,059
Change in Working Capital	273	-479	-447	1,935	1,610

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.