Air France-KLM downbeat on prospects for ‘difficult’ 2017
Air France-KLM Group CE Jean-Marc Janaillac delivered a downbeat assessment of the carrier’s prospects for 2017, saying it faces “difficult” times in the year ahead amid rising oil prices and an ongoing struggle to rein in expenses. Weak margins combined with high debt remain the greatest challenges to Europe’s biggest airline, Janaillac said Wednesday. He declined to comment on the status of talks with pilots linked to the cost-cutting drive, citing the need to build trust with unions. “We will have to face the increase of oil prices, of the dollar, and an increase in interest rates, and this while our profitability is weak and we have a high debt without the option of appealing to our shareholders, given our weak stock valuation,” the CE said. Air France-KLM had sales of about E25b last year and a positive net result. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-01-13/sky/air-france-klm-downbeat-on-prospects-for-2018difficult2019-2017
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Air France-KLM downbeat on prospects for ‘difficult’ 2017
Air France-KLM Group CE Jean-Marc Janaillac delivered a downbeat assessment of the carrier’s prospects for 2017, saying it faces “difficult” times in the year ahead amid rising oil prices and an ongoing struggle to rein in expenses. Weak margins combined with high debt remain the greatest challenges to Europe’s biggest airline, Janaillac said Wednesday. He declined to comment on the status of talks with pilots linked to the cost-cutting drive, citing the need to build trust with unions. “We will have to face the increase of oil prices, of the dollar, and an increase in interest rates, and this while our profitability is weak and we have a high debt without the option of appealing to our shareholders, given our weak stock valuation,” the CE said. Air France-KLM had sales of about E25b last year and a positive net result. <br/>
