And a return to beaches and city breaks also means a return to the skies for many.

As consumers flocked abroad, revenues soared for two of Europe's leading airlines.

On Thursday (February 29), Air France-KLM reported record revenues for last year.

The airline made an operating profit of $1.8 billion, in line with analyst forecasts.

Ticket sales were high - pushing revenues 14% higher year-on-year to $32.5 billion.

But investors weren't happy to see Air France-KLM swing to an unexpected loss of over $60 million in the last quarter of 2023.

Analysts had expected a profit.

The carrier was hit by higher costs and disruption caused by conflict in the Middle East.

That spooked markets, and sent shares down 10% early Thursday.

The stock price of rival IAG rose over 1% on the same day.

The group said it more than doubled full-year operating profit, hitting $3.8 billion.

The British Airways owner also gave a positive outlook for the year ahead due to sustained travel demand.

Another leading European airline saw its stock price drop over 1% Thursday, however.

Investors fear Germany's Lufthansa will likely miss its profit margin goal this year.

They blame new, higher pay deals to end prolonged strikes which have forced Lufthansa to cancel thousands of flights.