Air France-KLM

Earnings Release • Dec 8, 2015

NOVEMBER 2015 TRAFFIC

• Passenger network: strict capacity discipline, increase in both traffic and load factor, notably impacted by the 13th November Paris terrorist attacks
• Cargo activity impacted by additional security measures at CDG

Traffic highlights

November traffic to and from Paris was significantly impacted by the 13th November Paris terrorist attacks. Passenger network load factor was down 0.9 points in the period from 14th to 30th November, while it was up 2.7 points in the period from 1st to 13th November. Transavia activity was affected to a lesser extent. Cargo activity was primarily impacted by the additional security measures implemented at Paris-CDG airport following the attacks.

The negative impact of the Paris attacks on total November revenues is estimated to be around 50 million euros. Current booking trends are in line with a progressive recovery including a very limited impact on volumes after the end of December 2015.

Passenger network activity	Capacity	Traffic	Load Factor	Change
(Air France, KLM, HOP!)	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Long-haul	+ 1.8%	+ 2.4%	83.5%	+ 0.4
North America	+ 8.4%	+ 8.2%	85.8%	- 0.2
Latin America	+ 3.4%	+ 1.5%	81.4%	- 1.5
Asia	- 3.2%	- 2.9%	83.3%	+ 0.2
Africa / Middle East	+ 1.5%	+ 7.6%	79.0%	+ 4.5
Caribbean / Indian Ocean	- 0.2%	- 1.5%	88.2%	- 1.2
Short and Medium-haul	- 2.4%	- 0.8%	77.7%	+ 1.3
Total network airlines	+ 1.0%	+ 1.8%	82.4%	+ 0.6

• 6.0 million passengers, up 0.3%
• Network-wide load factor up in spite of Paris terrorist attacks
• Traffic matched the significant increase in capacity on North America, with load factor stable in spite of the terrorist attacks.
• Excluding last year's strike impact on November revenues and this year's estimated impact of the Paris attacks, unit revenue per available seat kilometer (RASK) ex-currency down compared to November 2014

Transavia activity	Capacity Traffic		Load Factor	Change
	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	+ 1.6%	+ 1.1%	86.0%	- 0.4

0.5 million passengers, up 7.0%

Total group passenger activity (Air France, KLM, HOP!, Transavia)	Capacity (ASK, %ch.)	Traffic (RPK, %ch.)	Load Factor (%)	Change (pts)
Total	+ 1.0%	+ 1.8%	82.6%	+ 0.6

6.5 million passengers, up 0.8%

Cargo activity	Capacity	Traffic	Load Factor	Change
	(ATK, %ch.)	(RTK, %ch.)	(%)	(pts)
Total	- 9.7%	- 11.3%	65.2%	- 1.2

Ongoing restructuring of cargo: full-freighter capacity down 33% compared to November 2014

Excluding this year's estimated impact of the Paris attacks, unit revenue per available ton kilometer (RATK) excurrency clearly down compared to November 2014

Agenda

11 January 2016: December 2015 traffic 8 February 2016: January 2016 traffic 18 February 2016: Full year 2015 results

Investors Press

+33 1 49 89 52 59 +33 1 49 89 52 60 bedelcaire@airfranceklm.com divoermans@airfranceklm.com Website: www.airfranceklm-finance.com www.airfranceklm.com

Bertrand Delcaire Dirk Voermans +33 1 41 56 56 00

STATISTICS

Passenger network activity*

	November			Year to date
Total Passenger network*	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	5,963	5,944	0.3%	72,862	71,231	2.3%
Revenue pax-kilometers (m RPK)	17,709	17,398	1.8%	217,147	210,911	3.0%
Available seat-kilometers (m ASK)	21,488	21,278	1.0%	254,484	248,568	2.4%
Load factor (%)	82.4%	81.8%	0.6	85.3%	84.9%	0.5
Long-haul
Passengers carried ('000s)	1,930	1,869	3.3%	23,511	22,687	3.6%
Revenue pax-kilometers (m RPK)	14,464	14,128	2.4%	176,368	170,593	3.4%
Available seat-kilometers (m ASK)	17,314	17,001	1.8%	203,695	197,515	3.1%
Load factor (%)	83.5%	83.1%	0.4	86.6%	86.4%	0.2
North America
Passengers carried ('000s)	532	495	7.6%	6,939	6,643	4.4%
Revenue pax-kilometers (m RPK)	3,799	3,512	8.2%	49,263	46,919	5.0%
Available seat-kilometers (m ASK)	4,427	4,085	8.4%	55,677	53,336	4.4%
Load factor (%)	85.8%	86.0%	(0.2)	88.5%	88.0%	0.5
Latin America
Passengers carried ('000s)	234	228	3.0%	2,784	2,639	5.5%
Revenue pax-kilometers (m RPK)	2,234	2,201	1.5%	26,754	25,430	5.2%
Available seat-kilometers (m ASK)	2,744	2,654	3.4%	30,903	29,088	6.2%
Load factor (%)	81.4%	82.9%	(1.5)	86.6%	87.4%	(0.8)
Asia / Pacific
Passengers carried ('000s)	474	483	(1.9%)	5,805	5,603	3.6%
Revenue pax-kilometers (m RPK)	4,062	4,185	(2.9%)	50,637	49,416	2.5%
Available seat-kilometers (m ASK)	4,874	5,035	(3.2%)	58,074	56,908	2.0%
Load factor (%)	83.3%	83.1%	0.2	87.2%	86.8%	0.4
Africa / Middle East
Passengers carried ('000s)	422	391	8.0%	4,859	4,721	2.9%
Revenue pax-kilometers (m RPK)	2,395	2,226	7.6%	26,936	26,457	1.8%
Available seat-kilometers (m ASK)	3,030	2,985	1.5%	33,181	32,652	1.6%
Load factor (%)	79.0%	74.6%	4.5	81.2%	81.0%	0.2
Caribbean / Indian, Ocean
Passengers carried ('000s)	266	272	(2.1%)	3,124	3,081	1.4%
Revenue pax-kilometers (m RPK)	1,974	2,004	(1.5%)	22,777	22,371	1.8%
Available seat-kilometers (m ASK)	2,238	2,242	(0.2%)	25,860	25,531	1.3%
Load factor (%)	88.2%	89.4%	(1.2)	88.1%	87.6%	0.5
Short and Medium-haul
Passengers carried ('000s)	4,033	4,075	(1.0%)	49,351	48,544	1.7%
Revenue pax-kilometers (m RPK)	3,245	3,270	(0.8%)	40,780	40,318	1.1%
Available seat-kilometers (m ASK)	4,174	4,277	(2.4%)	50,789	51,053	(0.5%)
Load factor (%)	77.7%	76.5%	1.3	80.3%	79.0%	1.3

* Air France, KLM, and HOP!

Transavia activity

	November				Year to date
Transavia	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	525	491	7.0%	10,238	9,407	8.8%
Revenue pax-kilometers (m RPK)	979	968	1.1%	19,148	18,192	5.3%
Available seat-kilometers (m ASK)	1,138	1,120	1.6%	21,205	20,171	5.1%
Load factor (%)	86.0%	86.4%	(0.4)	90.3%	90.2%	0.1

Total group passenger activity**

November
2015	2014	Variation	2015	2014	Variation
6,488	6,435	0.8%	83,100	80,638	3.1%
18,688	18,366	1.8%	236,295	229,103	3.1%
22,626	22,398	1.0%	275,689	268,738	2.6%
82.6%	82.0%	0.6	85.7%	85.3%	0.5
					Year to date

** Air France, KLM, HOP! and Transavia

Cargo activity

	November				Year to date
Total group	2015	2014	Variation	2015	2014	Variation
Revenue tonne-km (m RTK)	762	859	(11.3%)	8,259	9,030	(8.5%)
Available tonne-km (m ATK)	1,168	1,294	(9.7%)	13,709	14,325	(4.3%)
Load factor (%)	65.2%	66.4%	(1.2)	60.2%	63.0%	(2.8)