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Air France-KLM Dutch arm submits restructuring plan to state

·1 min read
FILE PHOTO: An Air France plane prepares to land at Nice International airport in Nice
FILE PHOTO: An Air France plane prepares to land at Nice International airport in Nice

AMSTERDAM (Reuters) - KLM, the Dutch arm of Air France-KLM <AIRF.PA>, said on Thursday it had submitted a plan to restructure operations to the Dutch state, a condition of the 3.4 billion euros ($4 billion) package in aid it is receiving to avoid bankruptcy amid the COVID-19 pandemic.

In a statement, KLM said the plan includes agreements with all employees, and would cut costs by 15%, as well as reduce carbon dioxide emissions by 50% by 2030. KLM is cutting its workforce by 20%, including 4,500 jobs this year.

(Reporting by Toby Sterling; editing by Jonathan Oatis)