Air France-KLM plans sales and efficiency drive to lift profit [Reuters]
AIR FRANCE-KLM ADS (AFLYY)
NASDAQ:AMEX Investor Relations:
airfranceklm.com/en/contacting-investor-relations-department
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Source: Reuters
Air France-KLM plans sales and efficiency drive to lift profit - Reuters 3 Min Read PARIS/HELSINKI (Reuters) - Air France-KLM ( AIRF.PA ) will combine a sales drive with efficiencies including better fleet management to lift profit margins to 7-8% over the medium term, the airline group’s Chief Executive Ben Smith told investors on Tuesday. “The Air France-KLM group has all the assets to regain its leadership position,” Smith said in a company statement ahead of his first major strategy presentation since joining from Air Canada last year. After a wave of 2018 strikes that grounded flights and cost 335 million euros ($373 million), the Franco-Dutch group has stabilized under Smith’s leadership thanks to union deals that have pushed up wage costs but increased operating flexibility. Air France’s operating margin came in at 4.8% for the first nine months of 2019, a 1.7 point decline from the same period a year earlier. Under his new five-year plan, Smith vowed to lift profitability an
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