Air France-KLM

Earnings Release • May 11, 2015

APRIL 2015 TRAFFIC

• Passenger network: strict capacity discipline
• Ongoing accelerated development of Transavia in France
• Restructuring of cargo: full-freighter capacity down 30%

Traffic highlights

Passenger network activity	Capacity	Traffic	Load Factor	Change
(Air France, KLM, HOP!)	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Long-haul	+ 1.9%	+ 0.7%	85.2%	- 1.1
North America	+ 1.9%	+ 0.0%	87.0%	- 1.6
Latin America	+ 6.1%	+ 2.5%	83.4%	- 3.0
Asia	+ 1.9%	+ 0.7%	85.3%	- 1.1
Africa / Middle East	- 0.5%	- 2.5%	80.4%	- 1.6
Caribbean / Indian Ocean	+ 0.3%	+ 3.6%	89.5%	+ 2.9
Short and Medium-haul	- 5.5%	- 4.4%	80.0%	+ 0.9
Total passenger network	+ 0.3%	- 0.4%	84.2%	- 0.6

6.5 million passengers, down 2.0%

Increased pressure on unit revenue in the month of April including Easter calendar effect. Unit revenue per available seat kilometer (RASK) ex-currency down compared to April 2014, reflecting the expected capacity/demand balances in the different regions, in line with the expected outlook for the year: almost all of the expected savings on the fuel bill could be offset by unit revenue pressure and negative currency impacts

Transavia activity	Capacity	Traffic	Load Factor	Change
	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	+ 7.1%	+ 4.6%	88.4%	- 2.1

0.8 million passengers, +7.6%

Ongoing accelerated development of Transavia in France, capacity up 24%

Total group passenger	Capacity	Traffic	Load Factor	Change
activity	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	+ 0.8%	0.0%	84.5%	- 0.7

7.3 million passengers, down 1.0%

Cargo activity	Capacity	Traffic	Load Factor	Change
	(ATK, %ch.)	(RTK, %ch.)	(%)	(pts)
Total	- 7.0%	- 14.9%	59.3%	- 5.5

Unit revenue per available ton kilometer (RATK) ex-currency down compared to April 2014

Recent Developments

• On April 10th , following a very high level of interest, Air France-KLM has increased the size of the perpetual subordinated bond issue realized on 26 March, raising an additional 200 million euros at a yield of 5.5%.
• On April 29th, Air France-KLM and Air France signed a 1.1 billion euro revolving credit facility with 13 international banks, finalizing the early refinancing of the credit facility which was due to mature in April 2016.

Agenda

21 May 2015: Annual General Meeting of shareholders 8 June 2015: May 2015 traffic 8 July 2015: June 2015 traffic

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*

	April			Year to date
Total Passenger network*	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	6,529	6,662	(2.0%)	23,893	23,979	(0.4%)
Revenue pax-kilometers (m RPK)	19,155	19,226	(0.4%)	72,072	72,253	(0.3%)
Available seat-kilometers (m ASK)	22,760	22,685	0.3%	86,866	86,731	0.2%
Load factor (%)	84.2%	84.8%	(0.6)	83.0%	83.3%	(0.3)
Long-haul
Passengers carried ('000s)	2,064	2,045	0.9%	7,863	7,832	0.4%
Revenue pax-kilometers (m RPK)	15,475	15,375	0.7%	59,111	59,082	0.0%
Available seat-kilometers (m ASK)	18,157	17,816	1.9%	69,737	69,123	0.9%
Load factor (%)	85.2%	86.3%	(1.1)	84.8%	85.5%	(0.7)
North America
Passengers carried ('000s)	611	610	0.0%	2,065	2,023	2.1%
Revenue pax-kilometers (m RPK)	4,319	4,318	0.0%	14,667	14,385	2.0%
Available seat-kilometers (m ASK)	4,964	4,871	1.9%	16,986	16,667	1.9%
Load factor (%)	87.0%	88.6%	(1.6)	86.3%	86.3%	0.0
Latin America
Passengers carried ('000s)	239	233	2.5%	946	943	0.3%
Revenue pax-kilometers (m RPK)	2,293	2,238	2.5%	9,109	9,058	0.6%
Available seat-kilometers (m ASK)	2,749	2,591	6.1%	10,616	10,448	1.6%
Load factor (%)	83.4%	86.4%	(3.0)	85.8%	86.7%	(0.9)
Asia / Pacific
Passengers carried ('000s)	507	497	2.0%	1,957	1,921	1.9%
Revenue pax-kilometers (m RPK)	4,440	4,411	0.7%	17,011	17,007	0.0%
Available seat-kilometers (m ASK)	5,208	5,110	1.9%	20,013	19,689	1.6%
Load factor (%)	85.3%	86.3%	(1.1)	85.0%	86.4%	(1.4)
Africa / Middle East
Passengers carried ('000s)	419	426	(1.5%)	1,665	1,725	(3.5%)
Revenue pax-kilometers (m RPK)	2,328	2,387	(2.5%)	9,350	9,755	(4.2%)
Available seat-kilometers (m ASK)	2,897	2,912	(0.5%)	12,006	12,184	(1.5%)
Load factor (%)	80.4%	82.0%	(1.6)	77.9%	80.1%	(2.2)
Caribbean / Indian, Ocean
Passengers carried ('000s)	289	279	3.5%	1,231	1,220	0.9%
Revenue pax-kilometers (m RPK)	2,094	2,021	3.6%	8,974	8,877	1.1%
Available seat-kilometers (m ASK)	2,339	2,332	0.3%	10,116	10,135	(0.2%)
Load factor (%)	89.5%	86.6%	2.9	88.7%	87.6%	1.1
Short and Medium-haul
Passengers carried ('000s)	4,465	4,617	(3.3%)	16,030	16,147	(0.7%)
Revenue pax-kilometers (m RPK)	3,681	3,852	(4.4%)	12,961	13,171	(1.6%)
Available seat-kilometers (m ASK)	4,603	4,869	(5.5%)	17,128	17,609	(2.7%)
Load factor (%)	80.0%	79.1%	0.9	75.7%	74.8%	0.9

* Air France, KLM, and HOP!

Transavia activity

	April				Year to date
Transavia	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	810	753	7.6%	2,466	2,233	10.4%
Revenue pax-kilometers (m RPK)	1,564	1,495	4.6%	4,581	4,312	6.2%
Available seat-kilometers (m ASK)	1,770	1,653	7.1%	5,201	4,919	5.7%
Load factor (%)	88.4%	90.5%	(2.1)	88.1%	87.7%	0.4

Total group passenger activity**

April
2015	2014	Variation	2015	2014	Variation
7,339	7,415	(1.0%)	26,360	26,212	0.6%
20,720	20,722	(0.0%)	76,653	76,565	0.1%
24,530	24,338	0.8%	92,067	91,650	0.5%
84.5%	85.1%	(0.7)	83.3%	83.5%	(0.3)
					Year to date

** Air France, KLM, HOP! and Transavia

Cargo activity

	April				Year to date
Total group	2015	2014	Variation	2015	2014	Variation
Revenue tonne-km (m RTK)	703	827	(14.9%)	2,964	3,292	(10.0%)
Available tonne-km (m ATK)	1,186	1,276	(7.0%)	4,921	5,080	(3.1%)
Load factor (%)	59.3%	64.8%	(5.5)	60.2%	64.8%	(4.6)