KLM
- abbreviation of:
- Koninklijke Luchtvaartmaatschappij NV (Dutch: Royal Air Transportation Company)
- English:
- Royal Dutch Airlines
- Date:
- October 7, 1919
- Ticker:
- AFLYY
- Share price:
- $1.115 (mkt close, Apr. 10, 2024)
- Market cap:
- $700.53 mil.
- Earnings per share (prev. year):
- $0.46
- Sector:
- Energy & Transportation
- Industry:
- AIR TRANSPORTATION, SCHEDULED
- CEO:
- Benjamin M. Smith
- Headquarters:
- Amstelveen
KLM, Dutch airline founded on Oct. 7, 1919, and flying its first scheduled service, between Amsterdam and London, on May 17, 1920. Until its merger with Air France in 2004, it was the world’s oldest continuously operating airline. Headquarters are at Amstelveen, Neth.
KLM was founded by a group of banking and business interests led by a former Dutch pilot, Albert Plesman (1889–1953), who headed the company until his death. KLM’s first route, between Amsterdam and London, was followed the same year by a route to Copenhagen, via Hamburg, and in 1923 by a route to Brussels. As early as 1921 KLM had opened the world’s first airline reservations and ticket office, in Amsterdam.
In 1928 Plesman also founded Koninklijke Nederlandsch–Indische Luchtvaart Maatschappij (KNILM), the Royal Netherlands–East Indies Airlines, which in 1930 inaugurated regular flights from the Netherlands to Batavia (now Jakarta) in the Dutch East Indies, a trip of 8,700 miles (14,000 km), until 1940 the world’s longest scheduled air route. KNILM merged with KLM in 1945.
In the 1920s and ’30s KLM’s routes spread throughout the Netherlands and Europe. During World War II, however, KLM lay largely dormant except in the West Indies, where its service, begun in 1941, grew rapidly, expanding to nine Caribbean and Latin American countries by 1945.
In 1945 KLM resumed its European service. On May 21, 1946, it became the first European airline to introduce scheduled service across the North Atlantic, to New York. The same year, it established trunk lines across the South Atlantic, to Curaçao and South America.
In 2004 KLM joined SkyTeam, an international airline alliance. The same year, the airline was acquired by Air France to create Air France–KLM, one of the world’s largest air carriers. Under the terms of the deal, however, the two airlines continued to operate as separate companies, retaining their own hubs, flights, and logos.