Mar 01 2023

The airline industry has fallen on hard times in recent years due to the COVID-19 pandemic, but there are bright spots. Air France-KLM, one of the largest airlines in Europe, returned to profit last quarter.

The company reported a profit of 369 million euros in the third quarter of 2021, compared to a loss of 1.67 billion euros in the same period last year. The development is welcome news for the company, which has made tough cuts in recent months to minimize the impact of the pandemic on its business.

Resumption of flight connections

A key factor in Air France-KLM's success has been the resumption of routes, particularly on long-haul routes. The company has also focused on optimizing its operating costs by reducing jobs and downsizing its fleet.

Despite the profit, the future remains uncertain for Air France-KLM. The company is still affected by the restrictions on international travel that exist due to the COVID-19 pandemic. Uncertainty regarding the development of the pandemic and the progress of the vaccination campaign makes for high volatility in the aviation market.

Competition from low-cost airlines

Another problem for Air France-KLM is competition from low-cost airlines, such as Ryanair and EasyJet. Companies in this industry have expanded rapidly in recent years, gaining a larger share of the market. Air France-KLM must therefore continue its efforts to reduce its costs and optimize its offering in order to compete.

Overall, the return to profitability for Air France-KLM is a step in the right direction. The company has made tough cuts in recent months and focused on strengthening its core business to improve its position in the airline industry. However, the future remains uncertain, and the company must continue to adapt to meet the challenges in the industry.

About MYFLYRIGHT

MYFLYRIGHT is a legal tech company, specialized in the support of airline passengers affected by flight delays, flight cancellations, denied boarding, delayed or lost luggage and the refund of unused airline tickets. MYFLYRIGHT was founded 2016 in Hamburg, Germany. The company operates out of 3 offices, its headquarter in Hamburg and its branches in Prague, Czech Republic and Zaporizhia, Ukraine. Currently, MYFLYRIGHT employs a team of around 25 people working in Marketing, Operations, Legal, Customer Support and IT. The organization operates across 5 markets – Germany, United Kingdom, Romania, Austria, and Switzerland.

MYFLYRIGHT’s goal is to provide access to justice for all aviation passengers who experience irregularities in their flight transportation. Notably, 75% of all compensation requests submitted by passengers get rejected. Whereas, MYFLYRIGHT is able to successfully execute the applicable customer claims in more than 98% of cases at court.