Air France Scraps Earnings Goal, Putting 2,800 Jobs at Risk

Air France-KLM Group scrapped a plan to break even at its main French unit this year, prompting management to deepen job cuts and retire planes to pare costs.

The stock fell as much as 4.4 percent after the Paris-based company said today that a reduction in capacity will leave it with 2,800 excess posts in France as more European flights move to discount arm Transavia. The airline, which is still seeking a group profit, indicated in July the positions might go.