Air France-KLM: Demand environment still depressed

Air France-KLM CEO, Pierre-Henri Gourgeon, stated the demand environment is still "horribly depressed", but there has been a slight improvement in conditions (btnonline.com, 07-Dec-2009). The CEO also noted that its trans-Atlantic JV with Delta has given "the same effect of consolidation" and the venture is working on the basis that eliminates distinctions between the carriers. Load factors have improved by 4 percentage points to 87-88%.

Air France-KLM: "It's difficult to find the right vocabulary. You would say it was depressed and it is still depressed, and horribly by figures with two digits, but probably a bit less depressed today than it was. You need a microscope to see the difference because it's horrible compared with horrible, but one is a bit less horrible than the other one. We can say that there is slight reduction in the degradation," Pierre-Henri Gourgeon, CEO. Source: btnonline.com, 07-Dec-2009.