Air France-KLM

Earnings Release • Oct 8, 2014

SEPTEMBER 2014 TRAFFIC

• Passenger: activity significantly impacted by 14 days of Air France pilot strikes
• Leisure: ongoing accelerated development of Transavia in France
• Outlook updated to reflect the consequences of the strike

Traffic highlights

Passenger	Capacity	Traffic	Load Factor	Change
	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Long-haul	-16.3%	-15.5%	87.9%	+0.8
Americas	-15.5%	-16.6%	89.8%	-1.2
Asia	-17.8%	-16.4%	88.3%	+1.4
Africa / Middle East	-14.6%	-14.0%	83.0%	+0.7
Caribbean / Indian Ocean	-17.7%	-10.2%	86.2%	+7.1
Short and Medium-haul	-18.3%	-17.5%	79.7%	+0.8
Total	-16.7%	-15.9%	86.1%	+0.8

5.7 million passengers, -16.3%

Unit revenue per available seat kilometer (RASK) ex-currency down compared to September 2013

14 days of strikes by several Air France pilot unions, operations disrupted for a further two days

Transavia	Capacity	Traffic	Load Factor	Change
	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	+10.3%	+8.9%	92.4%	-1.1

1.1 million passengers, +10.2%

Ongoing accelerated development of Transavia in France: capacity up by 21.4%, with a load factor above 85%

Cargo	Capacity	Traffic	Load Factor	Change
	(ATK, %ch.)	(RTK, %ch.)	(%)	(pts)
Total	-16.6%	-17.7%	61.6%	-0.8

Unit revenue per available ton kilometer (RATK) ex-currency down compared to September 2013

The impact of the pilot strike on the third quarter operating result is currently estimated at between €320 million and €350 million. This figure includes the impact on revenue, net of the expenses avoided, together with all the additional costs.

Furthermore, between the beginning and the end of the strike, the Group noted a 1 to 2-point delay in fourth quarter booking trends, without being able precisely to apportion responsibility for this delay between the strike and the unfavorable demand trend seen since the early summer and subsequently confirmed. The Group estimates that part of this delay could be progressively reduced over the coming weeks, without being able to quantify this adjustment exactly given the exceptional nature of the event.

All of the above elements could have an impact of around €500 million on EBITDA for the 2014 financial year.

Strategic development: Winter 2014-15 schedule

For the 2014-15 Winter season (26th October 2014 to 28th March 2015), the Group's capacity expressed in ASK is expected to grow by +0.7%, of which +0.1% for the passenger business (Air France, Hop and KLM) and +13.3% for Transavia.

• Long-haul capacity will be broadly stable (+0.3%) with very targeted development: maintenance of the Paris-Brasilia service launched over the summer within the framework of the partnership with GOL, additional Amsterdam-Atlanta flights, bringing into service of the A380 on Abidjan, and ongoing development of Tokyo Haneda.
• Short and Medium-haul capacity from the CDG and Amsterdam hubs will be slightly increased (+3.1%), driven as over the summer by the growth in the network at Amsterdam. Main developments include the maintenance over the Winter of the services launched during the summer from Amsterdam to Turin, Bilbao

and Zagreb and from Paris to Stavanger, additional frequencies on Amsterdam-Bergen, Billund, Moscow and Bordeaux.

As in the Summer season, Short and Medium-haul point-to-point capacity continues to be adjusted lower (-11.3%) with, notably, a further adaptation of the schedule in the provincial bases, and some frequency reductions on Orly-Bordeaux and Orly-Toulouse.

The Group continues the deployment of its new long-haul products. By the end of 2014, 22 B747s and one B777 will be equipped at KLM and 5 B777s at Air France.

Transavia capacity will be up 13.3%. Growth will be concentrated on France (+56%) with, notably, the maintenance of routes with reduced seasonality launched in Summer 2014.

Agenda

29th October 2014: Q3 2014 results release 12th November 2014: October 2014 traffic 8 th December 2014: November 2014 traffic

Investors Press

Bertrand Delcaire Dirk Voermans France: +33 1 41 56 56 00 +33 1 49 89 52 59 +33 1 49 89 52 60 Netherlands: +31 20 649 45 45 bedelcaire@airfranceklm.com divoermans@airfranceklm.com Website: www.airfranceklm-finance.com www.airfranceklm-finance.com www.airfranceklm.com

STATISTICS

Passenger activity
--------------------	--

	September			Year to date
Total Group	2014	2013	Variation	2014	2013	Variation
Passengers carried ('000s)	5,722	6,837	(16.3%)	58,355	58,488	(0.2%)
Revenue pax-kilometers (m RPK)	16,611	19,751	(15.9%)	173,584	172,923	0.4%
Available seat-kilometers (m ASK)	19,289	23,156	(16.7%)	203,770	205,263	(0.7%)
Load factor (%)	86.1%	85.3%	0.8	85.2%	84.2%	0.9
Long-haul
Passengers carried ('000s)	1,769	2,095	(15.5%)	18,705	18,593	0.6%
Revenue pax-kilometers (m RPK)	13,345	15,793	(15.5%)	140,510	139,614	0.6%
Available seat-kilometers (m ASK)	15,189	18,140	(16.3%)	161,916	162,036	(0.1%)
Load factor (%)	87.9%	87.1%	0.8	86.8%	86.2%	0.6
Americas
Passengers carried ('000s)	769	923	(16.6%)	7,670	7,566	1.4%
Revenue pax-kilometers (m RPK)	5,956	7,137	(16.6%)	59,700	58,899	1.4%
Available seat-kilometers (m ASK)	6,633	7,848	(15.5%)	67,787	66,190	2.4%
Load factor (%)	89.8%	90.9%	(1.2)	88.1%	89.0%	(0.9)
Asia / Pacific
Passengers carried ('000s)	446	524	(14.8%)	4,581	4,609	(0.6%)
Revenue pax-kilometers (m RPK)	3,920	4,692	(16.4%)	40,501	40,893	(1.0%)
Available seat-kilometers (m ASK)	4,440	5,399	(17.8%)	46,364	47,474	(2.3%)
Load factor (%)	88.3%	86.9%	1.4	87.4%	86.1%	1.2
Africa / Middle East
Passengers carried ('000s)	363	433	(16.0%)	3,906	3,903	0.1%
Revenue pax-kilometers (m RPK)	2,058	2,392	(14.0%)	21,856	21,679	0.8%
Available seat-kilometers (m ASK)	2,478	2,903	(14.6%)	26,658	26,871	(0.8%)
Load factor (%)	83.0%	82.4%	0.7	82.0%	80.7%	1.3
Caribbean / Indian Ocean
Passengers carried ('000s)	190	216	(11.8%)	2,548	2,515	1.3%
Revenue pax-kilometers (m RPK)	1,412	1,573	(10.2%)	18,452	18,143	1.7%
Available seat-kilometers (m ASK)	1,638	1,989	(17.7%)	21,107	21,502	(1.8%)
Load factor (%)	86.2%	79.1%	7.1	87.4%	84.4%	3.0
Short and Medium-haul
Passengers carried ('000s)	3,953	4,742	(16.7%)	39,649	39,895	(0.6%)
Revenue pax-kilometers (m RPK)	3,266	3,958	(17.5%)	33,074	33,309	(0.7%)
Available seat-kilometers (m ASK)	4,100	5,017	(18.3%)	41,854	43,227	(3.2%)
Load factor (%)	79.7%	78.9%	0.8	79.0%	77.1%	2.0

Transavia activity

	September			Year to date
Total Group	2014	2013	Variation	2014	2013	Variation
Passengers carried ('000s)	1,090	989	10.2%	7,956	7,255	9.7%
Revenue pax-kilometers (m RPK)	2,065	1,896	8.9%	15,342	14,408	6.5%
Available seat-kilometers (m ASK)	2,235	2,027	10.3%	16,983	15,885	6.9%
Load factor (%)	92.4%	93.5%	(1.1)	90.3%	90.7%	(0.4)

An Excel file containing historical Transavia traffic data is available on our website at http://www.airfranceklm-finance.com

Cargo activity

	September			Year to date
Total Group	2014	2013	Variation	2014	2013	Variation
Revenue tonne-km (m RTK)	690	838	(17.7%)	7,297	7,465	(2.3%)
Available tonne-km (m ATK)	1,119	1,342	(16.6%)	11,664	12,017	(2.9%)
Load factor (%)	61.6%	62.5%	(0.8)	62.6%	62.1%	0.4
Americas
Revenue tonne-km (m RTK)	288	341	(15.6%)	3,052	3,079	(0.9%)
Available tonne-km (m ATK)	485	576	(15.8%)	4,937	5,037	(2.0%)
Load factor (%)	59.3%	59.2%	0.1	61.8%	61.1%	0.7
Asia / Pacific
Revenue tonne-km (m RTK)	266	334	(20.4%)	2,763	2,866	(3.6%)
Available tonne-km (m ATK)	349	427	(18.3%)	3,575	3,737	(4.4%)
Load factor (%)	76.2%	78.2%	(2.0)	77.3%	76.7%	0.6
Africa / Middle East
Revenue tonne-km (m RTK)	110	126	(12.9%)	1,136	1,171	(3.0%)
Available tonne-km (m ATK)	185	217	(14.7%)	1,954	2,028	(3.7%)
Load factor (%)	59.2%	57.9%	1.2	58.1%	57.7%	0.4
Caribbean / Indian Ocean
Revenue tonne-km (m RTK)	22	32	(32.3%)	299	301	(0.7%)
Available tonne-km (m ATK)	57	76	(25.5%)	792	815	(2.8%)
Load factor (%)	37.9%	41.7%	(3.8)	37.7%	36.9%	0.8
Short and Medium-haul
Revenue tonne-km (m RTK)	5	5	(11.7%)	47	49	(3.9%)
Available tonne-km (m ATK)	43	45	(4.8%)	406	400	1.7%
Load factor (%)	11.2%	12.1%	(0.9)	11.7%	12.4%	(0.7)