Rigorous cost reductions with Air France-KLM
| Air France-KLM reports an operative loss in fiscal year 2008/09 In response to the substantial decline in figures of passenger and air cargo traffic the Management of the Air France-KLM Group launches a rigorous cost cutting programme. In Paris Pierre-Henri Gourgeon, CEO, announced a 4.5%-reduction of the PAX-offer for the summer period 2009. Capacities of the air cargo segment will be reduced by 11 per cent. Investments will be reduced from originally EUR 2.9 billion to EUR 1.4 billion in the fiscal year 2009/10. In addition costs shall be reduced by EUR 600 million. As for fuel purchase economies of EUR 1.9 billion are contemplated. This package of measures was triggered by the weak performance of Air France-KLM in the first quarter of 2009. Turnover dropped in comparison to the previous year by 12.2 per cent to EUR 5.01 billion. The operative result shows a disposal of EUR 574 million. In the fiscal period 2008/09 (March 31, 2009) Air France-KLM recorded a turnover of EUR 23.97 billion (minus 0.6%) and an operative result of minus EUR 129 million. The annual result of minus EU 814 million was clearly negative. In the reporting period Air France-KLM Cargo recorded a 2.4%-decline in turnover to EUR 2.85 billion and shows an operative result of minus EU 207 million on the balance sheet. This is mainly due to the decline in revenue freight tonne kilometres by 4.6 per cent to 10.84 billion RFTK. The freight load factor deteriorated by 4.6 per centage points to 62.9 per cent. Quelle: Österreichische Verkehrszeitung |
