Loading
3-Jul-2013 2:46 PM

Air France-KLM: 66% of restructuring plan objectives reportedly already achieved

Air France-KLM Group reportedly has already achieved 66% of its Transform 2015 restructuring plan objectives with the Group already saving EUR990 million. According to a report from Les Echos, the Group is targeting savings of EUR1.5 billion by the end of 2014 and reportedly will release an updated restructuring strategy in Oct-2013 in order to address losses in its short and medium-haul and cargo businesses. Air France’s provincial bases, which lost EUR130 million in 2012, are reportedly expected to report a loss of EUR80 million in 2013. Meanwhile Air France’s costs have reduced by 3% since 2011 however the airline has also faced a 3.8% decline in unit revenue in its short and medium-haul operations.

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More