Air France-KLM Downbeat on Prospects for ‘Difficult’ 2017
- Janaillac braced for squeeze as oil prices start to climb
- CEO says low margins, high debt are biggest challenges
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Air France-KLM Group Chief Executive Officer 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 in an address at a press reception in Paris late 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.