Air France Plans Job Freeze, Capacity Cuts to Defend Profit
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Air France-KLM Group, Europe’s largest airline, declined as much as 7.5 percent in Paris trading after saying it will deepen capacity cuts and is discussing a hiring freeze with unions to defend earnings goals.
Chief Executive Officer Pierre-Henri Gourgeon will “seek a consensus to reduce structural costs in a context of economic uncertainty,” Jean-Charles Trehan, a spokesman for the Paris-based airline, said today. A target for a positive operating profit still stands, he said.