Air France-KLM launches cost-saving plan
Air France-KLM has put a plan of structural cost-savings in place, claiming it will emerge stronger from the economic crisis and steep oil prices.
Speaking to a group of international institutional investors at the UBS conference in London yesterday, the airline’s chairman Jean-Cyril Spinetta said it will outperform its European rival airlines.
He claimed that while Air France-KLM’s hedges remain the best among its European peers, they will decline in efficiency over time.
He also confirmed the group’s objective for the current financial year of operating income in the region of one billion euros.
Spinetta said he expects the oil price to remain at a high level, and emphasised the importance for the group of adapting to this environment.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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