Air France-KLM

Earnings Release • Apr 8, 2015

March 2015 TRAFFIC

• Network airlines: continued contrasted trends, strict capacity discipline
• Ongoing accelerated development of Transavia in France

Traffic highlights

Network airlines activity	Capacity	Traffic	Load Factor	Change
(Air France, KLM, HOP!)	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Long-haul	+ 0.2%	+ 0.4%	85.2%	+ 0.1
North America	+ 1.2%	+ 2.7%	88.6%	+ 1.3
Latin America	- 0.5%	+ 0.1%	84.3%	+ 0.6
Asia	+ 1.2%	+ 0.7%	86.0%	- 0.4
Africa / Middle East	- 1.9%	- 3.1%	77.0%	- 1.0
Caribbean / Indian Ocean	- 0.0%	- 0.1%	88.7%	- 0.1
Short and Medium-haul	- 2.5%	- 2.1%	76.1%	+ 0.3
Total network airlines	- 0.3%	- 0.1%	83.3%	+ 0.2

6.3 million passengers, down 0.4%

Unit revenue per available seat kilometer (RASK) ex-currency down compared to March 2014, reflecting the expected capacity/demand balances: good performance on North America, the Caribbean/Indian Ocean and point-to-point, unit revenues under pressure on the other networks

Transavia activity	Capacity	Traffic Load Factor		Change
	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	+ 2.4%	+ 3.2%	89.9%	+ 0.7

0.6 million passengers, +9.0%

Ongoing accelerated development of Transavia in France (capacity up 48%) partly offset by seasonal charter capacity adjustments in the Netherlands

Total group passenger	Capacity	Traffic	Load Factor	Change
activity	(ASK, %ch.)	(RPK, %ch.)	(%)	(pts)
Total	- 0.2%	+ 0.1%	83.7%	+ 0.2

6.9 million passengers, +0.4%

Cargo activity	Capacity	Traffic	Load Factor	Change
	(ATK, %ch.)	(RTK, %ch.)	(%)	(pts)
Total	- 0.9%	- 8.7%	62.4%	- 5.3

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

Recent Developments

• On March 10th, Air France-KLM published its 2015 Summer schedule. The Group capacity is increasing by +1.7% compared to Summer 2014 (excluding strike impact). Long-haul capacity is increasing by 1.8%, whereas medium-haul capacity is decreasing by 1.9% on the back of the restructuring of the point-to-point business. Transavia continues its planned strong growth, up 7.8%.
• Air France-KLM is increasing services to Canada and launching two new routes: on March 29 th, Air France started servicing Vancouver, while KLM will start operating flights to Edmonton on May 19th, the fifth destination of the Group in Canada. The Group is also improving its position in South America thanks to the launch of a new KLM route to Bogota and Cali (Colombia), which started on March 31st .

On March 25th , Air France-KLM has successfully placed an issue of perpetual bonds for an amount of 400 million euros. This issue enables the consolidation of the Group's financial structure during the Perform 2020 implementation period. In view of this transaction, the Group has updated its net debt target for end 2015 from around 5 billion euros to around 4.6 billion euros.

Agenda

30 April 2015: Results of the First Quarter of 2015 11 May 2015: April 2015 traffic 21 May 2015: Annual General Meeting of shareholders 8 June 2015: May 2015 traffic

Investors Press

Bertrand Delcaire Dirk Voermans +33 1 41 56 56 00 +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-finance.com www.airfranceklm.com

STATISTICS

Network airlines activity*

	March			Year to date
Total Network airlines*	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	6,274	6,298	(0.4%)	17,365	17,318	0.3%
Revenue pax-kilometers (m RPK)	18,645	18,660	(0.1%)	52,917	53,027	(0.2%)
Available seat-kilometers (m ASK)	22,371	22,447	(0.3%)	64,106	64,046	0.1%
Load factor (%)	83.3%	83.1%	0.2	82.5%	82.8%	(0.2)
Long-haul
Passengers carried ('000s)	2,022	2,010	0.6%	5,799	5,787	0.2%
Revenue pax-kilometers (m RPK)	15,222	15,165	0.4%	43,636	43,707	(0.2%)
Available seat-kilometers (m ASK)	17,874	17,836	0.2%	51,581	51,307	0.5%
Load factor (%)	85.2%	85.0%	0.1	84.6%	85.2%	(0.6)
North America
Passengers carried ('000s)	536	522	2.7%	1,454	1,413	2.9%
Revenue pax-kilometers (m RPK)	3,803	3,703	2.7%	10,347	10,068	2.8%
Available seat-kilometers (m ASK)	4,293	4,243	1.2%	12,022	11,796	1.9%
Load factor (%)	88.6%	87.3%	1.3	86.1%	85.3%	0.7
Latin America
Passengers carried ('000s)	233	233	0.1%	707	710	(0.4%)
Revenue pax-kilometers (m RPK)	2,253	2,249	0.1%	6,816	6,820	(0.1%)
Available seat-kilometers (m ASK)	2,674	2,688	(0.5%)	7,867	7,857	0.1%
Load factor (%)	84.3%	83.7%	0.6	86.6%	86.8%	(0.2)
Asia / Pacific
Passengers carried ('000s)	510	499	2.3%	1,451	1,425	1.8%
Revenue pax-kilometers (m RPK)	4,446	4,415	0.7%	12,572	12,596	(0.2%)
Available seat-kilometers (m ASK)	5,172	5,110	1.2%	14,806	14,578	1.6%
Load factor (%)	86.0%	86.4%	(0.4)	84.9%	86.4%	(1.5)
Africa / Middle East
Passengers carried ('000s)	428	440	(2.9%)	1,246	1,299	(4.1%)
Revenue pax-kilometers (m RPK)	2,413	2,490	(3.1%)	7,022	7,368	(4.7%)
Available seat-kilometers (m ASK)	3,135	3,194	(1.9%)	9,109	9,272	(1.8%)
Load factor (%)	77.0%	78.0%	(1.0)	77.1%	79.5%	(2.4)
Caribbean / Indian,Ocean
Passengers carried ('000s)	315	317	(0.5%)	942	941	0.1%
Revenue pax-kilometers (m RPK)	2,306	2,308	(0.1%)	6,880	6,856	0.3%
Available seat-kilometers (m ASK)	2,600	2,601	(0.0%)	7,777	7,803	(0.3%)
Load factor (%)	88.7%	88.8%	(0.1)	88.5%	87.9%	0.6
Short and Medium-haul
Passengers carried ('000s)	4,252	4,288	(0.8%)	11,565	11,530	0.3%
Revenue pax-kilometers (m RPK)	3,423	3,495	(2.1%)	9,280	9,320	(0.4%)
Available seat-kilometers (m ASK)	4,498	4,611	(2.5%)	12,525	12,740	(1.7%)
Load factor (%)	76.1%	75.8%	0.3	74.1%	73.2%	0.9

* Air France, KLM, and HOP!

Transavia activity

	March				Year to date
Transavia	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	636	584	9.0%	1,656	1,480	11.9%
Revenue pax-kilometers (m RPK)	1,138	1,102	3.2%	3,017	2,817	7.1%
Available seat-kilometers (m ASK)	1,266	1,236	2.4%	3,431	3,265	5.1%
Load factor (%)	89.9%	89.1%	0.7	87.9%	86.3%	1.7

Total group passenger activity**

		March			Year to date
Total group**	2015	2014	Variation	2015	2014	Variation
Passengers carried ('000s)	6,910	6,882	0.4%	19,020	18,798	1.2%
Revenue pax-kilometers (m RPK)	19,783	19,762	0.1%	55,933	55,844	0.2%
Available seat-kilometers (m ASK)	23,637	23,683	(0.2%)	67,537	67,312	0.3%
Load factor (%)	83.7%	83.4%	0.2	82.8%	83.0%	(0.1)

** Air France, KLM, HOP! and Transavia

Cargo activity

	March				Year to date
Total group	2015	2014	Variation	2015	2014	Variation
Revenue tonne-km (m RTK)	822	900	(8.7%)	2,261	2,465	(8.3%)
Available tonne-km (m ATK)	1,318	1,329	(0.9%)	3,734	3,805	(1.9%)
Load factor (%)	62.4%	67.7%	(5.3)	60.5%	64.8%	(4.3)