Air France-KLM has put a plan of structural cost-savings in place, claiming it will emerge stronger from the economic crisis and steep oil prices.
Speaking to a group of international institutional investors at the UBS conference in London yesterday, the airline’s chairman Jean-Cyril Spinetta said it will outperform its European rival airlines.
He claimed that while Air France-KLM’s hedges remain the best among its European peers, they will decline in efficiency over time.
He also confirmed the group’s objective for the current financial year of operating income in the region of one billion euros.
Spinetta said he expects the oil price to remain at a high level, and emphasised the importance for the group of adapting to this environment.
By Bev Fearis
