Regulatory Filings • Jan 22, 2015
Regulatory Filings
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22nd January 2015
During the meeting of the Air France Corporate Works Council on 22nd January, the Air France management provided an update on the company's situation, the competitive environment in 2015, and the schedule of works linked to the new Perform 2020 strategic plan.
In 2015, Air France will benefit from the impact of the measures taken within the framework of Transform 2015 and from the fall in the fuel price. However, as announced in December 2014, the Group will also have to contend with the weaker unit revenue trend that has developed since the summer of 2014, which requires the implementation of additional measures.
Within this framework, the Air France management presented a number of actions to the Corporate Works Council: downwards revision in fleet and capacity growth, new initiatives to drive revenues, the reinforcement of 'purchasing' initiatives, maintained wage moderation and productivity efforts and further adaptation of headcount to requirements.
In particular, during a meeting of the Corporate Works Council to be held during the first fortnight in February, the Air France management will provide details on proposed new Voluntary Departure Plans. These Voluntary Departure Plans will relate to ground staff and cabin crew and aim at the departure of approximately 800 people.
These measures relate to both the full execution of Transform 2015 and an immediate adaptation to the Group's competitive environment.
In parallel, the Group is pursuing its efforts within the framework of the new Perform 2020 strategic plan. A progress report on this topic will be given during the Full Year 2014 results presentation on 19th February.
All the items shared during this meeting of the Air France Corporate Works Council refer exclusively to Air France and its subsidiary, and not Air France-KLM, whose targets remain unchanged.
Bertrand Delcaire Dirk Voermans +33 1 41 56 56 00 +33 1 49 89 52 59 +33 1 49 89 52 60 [email protected] [email protected] Website: www.airfranceklm-finance.com www.airfranceklm-finance.com www.airfranceklm.com
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