KLM seeking EUR390m in cost reduction 'over the next three years'

KLM president and CEO Pieter Elbers stated (10-Jun-2015) the carrier "must learn to adapt more quickly" if it is to maintain its position in European aviation. Mr Elbers said: "Perform 2020 is
 a growth plan, designed to cut our costs but also to enable investment. Like at Air France, our unit costs must be reduced by an average 1.5% a year at KLM, i.e. around 390 million euros over the next three years." Mr Elbers added: "To continue to increase our profitability and work more efficiently, KLM must also invest in its operating processes. Cost reduction notably implies significant productivity efforts where we are targeting at least 4% per year. A more horizontal organisational structure is also required." [more - original PR - English/French]