Air France to Cut Jobs After Loses Deepen
Air France-KLM, Europe’s largest airline by revenue, said that it would cut 1700 jobs next year after posting a net loss for the second quarter that was bigger than expected.
The carrier is to propose a voluntary redundancy program at Air France, which has 59000 workers. The company said that a steep fall in cargo operations and business-class traffic in the global recession had led to a net loss of €147 million for the three months to September 30, compared with a €27 million profit in the same period last year.
Pierre-Henri Gourgeon, chief executive, promised more cost cuts in addition to the €700 million already budgeted, as well as more cuts in passenger and cargo capacity.
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