Entered in turn in the turbulence of the global crisis, Air France-KLM raised Friday signal "fasten your seat belts", which should remain on a good time. Launched in effect a warning on result and a new goal of 700 to 800 million euros savings "by 2011-2012." A device intended to deal with sustainable stagnation for supply Air France, mentioned for the first time last Wednesday in Committee by its CEO, Jean - Cyril Spinetta.
In its release, the group will however not far, announcing only "the decision to limit the increase in capacity between 1 and 2 in the winter of 2008 and Summer 2009". If the offer of the company Air France indeed should stagnate, his KLM colleague, benefiting from lower operating costs, could provide a bit of growth. A condition that the racking in-season do not come to cancel planned additional offer little. As the forecast for the year 2010, including Jean - Cyril Spinetta said fear that they are "still more pessimistic than those of 2009", they do not wallow in the press release. "With regard to future years", the group "adapt the evolution of its offer to the market conditions", indicates only.
The cost reduction plan
Same caution regarding financial, also journals forecasts downward. Without advance of new revenues, Air France-KLM indicates that "it will very difficult to achieve its goal of a EUR 1 billion operating income" for the 2008-2009 fiscal year ended March 31. "Nevertheless, this result should remain broadly positive if the current market conditions do not deteriorate further", concludes the release. There again, it will likely be with KLM. Taken between the decline in long-haul traffic high contribution and the gradual disappearance of fuel surcharges, which amplify the degradation of revenues, Air France could indeed see its operating margin "to return to a level comparable to that of the fiscal year 2001-2002", said the Business Committee, Chief Financial Officer, Philippe Calavia. Or 0.2. And if nothing is done, the French company, which represents the large majority of the activity of the group, could even become deficit on FY 2009-2010. Indeed, including when the supply of Air France did not increase, excluding oil and exchange rate costs grow mechanically 3 per year, EUR 400 million.
Hence the announcement Friday of a new plan of cost reduction, still in preparation, whose purpose is to identify "between 700 and 800 million in additional savings accumulated by 2011-2012 and between 1.1 and 1.2 billion in 2013-2014". They will be added to the 1.4 billion euros under the title of the current "Challenge 10" plan for the period 2007-2010, which had already been reinforced of the order of EUR 190 million for the current year. In addition to the acceleration of the synergies between Air France and KLM, this additional effort could be accompanied by a reduction in the number of Air France in the order of 3 growth assuming zero until 2011. More short term, the Group should also review its investment plan, and in particular its purchases of aircraft.
After having won 12,82 Thursday, Air France-KLM title completed in Paris, the last trading session of the week down 3.16, to EUR 11,495.
But this solution raises not all obstacles9 hectares per person the curve has stabilized since the mid1990sMany are linked to the economies of paperAll upcoming sessions may reserve surprisesThe case of Jacques Labeyrie has recently newsThe manufacturer decided to reduce its range of productsThere is an optimization of the qualityprice ratioBut dairy cooperatives feel not concernedYou can see the same thing in the provinceWith the job losses salary increases of 4
