Air France-KLM third-quarter profit rises, KLM to cut a further 15% of staff
Air France-KLM reported third-quarter adjusted operating profit of 1.35 billion euros, up 126 million euros year on year, with revenue up 7.6% to 9.9 billion euros. In the same period KLM announced a further 15% reduction in staff and plans to cut another 1,000 ground services positions; the fleet will replace the previously planned additional A320neo orders with the E195-E2 and will phase out the 737 and E190. The group lowered its full-year capacity growth forecast from a maximum of 3% to 2%, and raised its 2026 fuel cost forecast to 9.2 billion US dollars.
Why recommended:Placing Air France-KLM's third-quarter profit alongside fare increases, KLM layoffs and fleet contraction shows the airline's capacity and organizational adjustments under cost pressure.