#Air #France–KLM posts loss as fuel costs bite
In an article published on the Sydney Morning Herald, Air France-KLM, which had switched into heavy loss last year due to rising fuel costs and distribution to traffic from Japan and North Africa, figures are showing that low cost airlines as another main contributor to the loss.
“The 2011 year was difficult for the group because of an uncertain economic environment and a large increase in the price of fuel," Air France-KLM head Jean-Cyril Spinetta said”
Under a three year plan, Air France is looking to cut debt sharply to 2.0 billion euros by the end of 2014.
Marnix Fruitema, VP Asia Pacific will be speaking at the Aviation Outlook 2012 this year in Sydney.
