Air France-KLM Group has revealed further details of its “Perform 2020” root-and-branch restructuring plans, in which it pledged to improve its core earnings by 8-10% per year through to 2017. The Perform 2020 plan calls for new aircraft for its Transavia low-cost unit in Europe, coupled with further restructuring of other loss-making divisions. Europe’s second-largest traditional network carrier said that more “belt-tightening” is needed to confront low-cost rivals easyJet and Ryanair in Europe, while trying to compete against fast-growing Gulf carriers on longer routes. The plan is the successor to the Transform 2015 restructuring programme, which is due to expire
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