PARIS, May 7 — Air France-KLM today posted sharp first-quarter losses and warned of more woe to come as the coronavirus pandemic trampled on global travel plans. The group said it did not expect to reach pre-crisis levels of passenger demand “before several years” and chief executive Benjamin...
Air France-KLM Chief Executive Officer Benjamin Smith arrives prior to presenting the group’s 2019 results at Air France headquarters in Roissy, on the outskirts of Paris, February 20, 2020. — AFP pic
French deputy transport minister Jean-Baptiste Djebbari told France 2 television that Smith had hinted at “more voluntary departures than direct job cuts” at the airline, where 18,800 workers of a total 53,000 are over the age of 50. The group highlighted €455 million in “over hedged” fuel purchases that were never used because of the pandemic.Th group noted “a strong performance at the start of the year with passenger unit revenue up 0.8 per cent” at the end of February.
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