|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||11.28 - 11.61|
|52 Week Range||6.65 - 11.61|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Air France-KLM pledged new efficiency gains to offset higher fuel costs this year, as the Franco-Dutch airline group deepens cooperation between its two main carriers. Presenting 2018 earnings for the group he joined in September, Chief Executive Ben Smith promised better-coordinated networks and fleets, after overcoming KLM resistance to closer integration with Air France in a new boardroom deal. After opening lower, Air France-KLM shares rose 4.1 percent to 10.80 euros at 1125 GMT.
Air France-KLM CEO Benjamin Smith is pushing ahead with plans to transform the airline to bring it on a par with its European rivals. On Wednesday, Smith outlined the new strategy, which included plans for a simplified structure as well as a brand reorganization. Millennial airline Joon is going and the company will now focus […] The post Air France-KLM Moves to Simplify Airline Group appeared first on Skift.
PARIS (AP) — Air France and KLM have reached a compromise on tightening ties between the airlines, ending a power struggle that had alarmed the Dutch government, staff and shareholders.
(AF.FR) said Wednesday that its net loss narrowed in the fourth quarter, while its 2018 results were hit by strikes at Air France and an increased fuel bill. The Franco-Dutch carrier posted a net loss of 218 million euros ($246.6 million), compared with a loss of EUR928 million a year earlier. Sales rose 4.1% to EUR6.54 billion, supported by higher passenger traffic and despite lower unit revenue, while income from current operations was down 82.4% to EUR40 million.
The board of Air France-KLM agreed to reappoint the head of its KLM division, the Franco-Dutch airline group said, resolving a standoff over new group CEO Ben Smith's plans for closer integration of the two carriers. In a separate advance for Smith, who joined Air France-KLM from Air Canada in September, the group also signed a pay deal with its French pilots on Tuesday, drawing a line under a labour dispute that blighted operations last year. Smith has been pushing for more concerted decision-making between the two brands as well as his own seat on the KLM board, but had encountered resistance from the Dutch carrier's workforce and CEO Pieter Elbers.
The board of Air France has decided to reappoint Dutchman Pieter Elbers as CEO of its most profitable subsidiary KLM, Dutch national broadcaster NOS reported on Tuesday, citing unnamed sources. The company's ...
Investors in a group led by rail operator Ferrovie dello Stato SpA are evaluating the financial needs of the “new Alitalia” that would emerge after the second bankruptcy process in a decade, said the people, who asked not to be named because the discussions are private. The plan will be discussed with Delta and EasyJet this week and could be finalized by the end of February, they said. The new Alitalia would retain assets from the previous carrier, but debt wouldn’t be carried over, according to the people.
Air France-KLM chief executive Ben Smith on Friday met the Dutch finance and transport ministers, amid growing unrest at the company's vital KLM subsidiary over plans for tighter integration with its French parent. Smith did not answer questions after the morning meeting in The Hague, but Netherlands Finance Minister Wopke Hoekstra told reporters that they had had "intensive talks". "I don't think it's polite to say exactly what we discussed," Hoekstra said.
Hundreds of workers of Air France's Dutch subsidiary KLM gathered at its office in Amstelveen, Netherlands, on Thursday to deliver a petition voicing support for the subsidiary's CEO Pieter Elbers. Elbers' 4-year term expires in April, and Air France's board is due to meet in Paris on Feb. 19 to discuss strategy ahead of earnings on Feb. 20. KLM has fiercely guarded its structure and brand since its acquisition in 2003, leading to tensions between Elbers and Smith.
It is the end for the superjumbo, the aircraft hailed as the future of air travel that would challenge America’s dominance of the skies. Just 12 years after the A380 jet first entered service, Airbus has pulled the plug on an aircraft considered the embodiment of European industrial co-operation. Only another 17 jets will roll off the production line — 14 for Emirates and three for Japan’s ANA — before it is closed.
More than 15 years ago, Air France and KLM merged to become Europe’s largest carrier. But the combined airline, no longer the continent’s biggest, still operates with two fiefdoms, one in Paris, and the other in Amsterdam, keeping it from leveraging the efficiencies shareholders covet. You might blame national pride. KLM, the Dutch airline, has […] The post It’s Time to Let Air France-KLM’s New CEO Take Charge appeared first on Skift.
Ferrovie dello Stato said that it would begin negotiations with Delta and EasyJet to agree a plan for Alitalia. Delta and EasyJet confirmed that talks with the state-backed rail company were ongoing.
Swissport will acquire the remaining 50 percent of Heathrow Cargo Handling Ltd. (HCH) it does not currently own from Air France, its joint venture partner. Swissport announced the acquisition on February 11. The acquisition will allow Swissport to make new investments in air freight operations at Heathrow Airport where it currently operates two warehouses with 165,000 square feet of total space.
EU antitrust regulators on Tuesday cleared Air France-KLM, Delta Air Lines and Virgin Group to acquire joint control over Virgin Atlantic, saying they did not see any competition concerns. The deal involves ...
The Dutch finance minister shifted his support behind the boss of the country’s airline KLM on Monday as tensions mounted between him and the new chief executive of the company’s parent group. Speaking on the margins of a finance ministers’ meeting in Brussels, Mr Hoekstra said he had endorsed Mr Elbers in a letter to KLM’s supervisory board and would discuss the company more broadly with his French counterpart, Bruno Le Maire. and KLM merged in May 2004, tensions between the two have persisted as neither wants to be seen as a subsidiary.
Air France KLM carried around 7.4 million passengers in January, up 1.5 percent from a year earlier, although its planes were slightly less full compared to last year. Air France KLM hired Benjamin Smith as its new group chief executive in August, after devastating strikes led to his predecessor's resignation. Smith has said Air France must narrow the profitability gap with its more efficient KLM stable mate.
EDITOR'S NOTE: On Feb. 1, 1979, Iran's exiled Ayatollah Ruhollah Khomeini descended from a chartered Air France Boeing 747 to return to Tehran, a moment that changed the country's history for decades to come.
has reached a tentative agreement with pilots’ unions SNPL and SPAF that could finally put an end to the long-running labor conflict that cost the airline so dearly in 2018. “This draft agreement proposes changes in pilot remuneration and introduces the necessary flexibility on certain rules of use to support Air France’s strategy,” the company said in a statement late on Wednesday. The airline, part of Air France-KLM (AF.FR), said the SNPL board voted in favor of holding a consultation with all pilots on the agreement, the results of which are expected around mid-February.
European shares extended their slide on Tuesday as growth worries weighed on global markets while results from Switzerland's UBS dragged on the banking sector. Oil prices also fell after the International Monetary Fund trimmed its global growth forecasts and a survey showed mounting pessimism among business chiefs as the rich and powerful gather at the World Economic Forum in Davos, Switzerland.
’s Russ Mould says. Shares in the Irish budget carrier have started to look cheap as its low-cost, high-margin business model attracts investor scrutiny in the face of rising labor costs, the trading firm says. Goldman had expected Alunorte to receive approvals and ramp up to full capacity by the end of 2018, but this still hasn’t happened.
The deal will provide for pay increases of 1.8 percent, as well as money to finance individual bonuses and measures to make the payment of overtime easier, Air France said. The airline was hit by a series of costly strikes in 2018, which led to the departure of chief executive Jean-Marc Janaillac in May and his replacement by former Air Canada executive Ben Smith. On Thursday Air France announced the signing of a new agreement with cabin crew.
John Strickland, director of JLS Consulting, says Air France has lagged behind partner airline KLM when it comes to addressing labor issues that have hit profits.