Company Watch - Air France-KLM.Oct 9, 2006
Air France Air France
in full Compagnie Internationale Air France
French passenger and cargo airline with more than 200 destinations in some 80 countries. It introduced supersonic Concorde service in 1976, but financial loss led the company to cease its Concorde announced a reduction of its fuel surcharge following a 30-day stretch during which oil prices remained below $65 per barrel. Effective on tickets issued from today, the surcharge will drop [euro]7 ($8.90) on long-haul flights, [euro]2 on medium-haul flights and [euro]1 on domestic flights. Oct 6, 2006
Air France-KLM Air France-KLM (Euronext Paris: AF, NYSE: AKH) is an airline company incorporated under French law with its headquarters at Roissy-Charles de Gaulle Airport near Paris, France. merger could deliver up to [euro]1 billion ($1.27 billion) in savings to the airlines by 2009, double the initially anticipated cost benefit of [euro]500 million, Air France KLM KLM Kaiserliche Marine (Enigma: Rising Tide game)
KLM Koninklijke Luchtvaart Maatschappij (Royal Dutch Airlines)
KLM Klub Langer Menschen (German: Tall Person Club) Vice Chairman and KLM President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Leo Leo, in astronomy
Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. van Wijk told Dutch magazine Zakenreis. Since the 2004 merger, the carriers have realized savings of [euro]660 million, he noted. He also revealed that he is considering relinquishing his titles at KLM when his contract expires in May 2007 in order to take a strategic role in the merged company. He said he expects to be replaced by Deputy CEO Peter Hartman, who will retain a purely operational role as head of the Dutch entity. Final decisions will be taken later this year. Oct 5, 2006
Air France-KLM's top 20 managers will meet later this year in order to "reflect on what the 'grand plan' should be for next year and how we can take the next steps," Van Wijk said. He did not rule out further integration, "but there must be good reasons for that." Possible investment in China will be on the agenda, while he reiterated that the company would consider a stake in Alitalia if the airline is privatized and profitable. Oct 5, 2006
KLM will switch over to the same IT system as Air France next year, allowing sales on a common platform. Oct 4, 2006
Air France KLM Sees Additional Savings. The 2004 merger of Air France and KLM could produce double the initially anticipated cost savings of EUR EUR
In currencies, this is the abbreviation for the Euro.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 500 million euros (USD USD
In currencies, this is the abbreviation for the U.S. Dollar.
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. $635.3 million), the chief executive of KLM was quoted as saying on Wednesday. Van Wijk said the merger between the French and Dutch airlines had already saved EUR660 million and added that the top 20 managers of Air France and KLM would meet later this year to assess progress and look to the future. Van Wijk said areas of potential cost saving include joint maintenance of both airlines' Boeing 747s at Schiphol and that of A380s in Paris. Oct 4, 2006
Air France KLM's Van Wijk when asked about further consolidation in the airline industry, said the company wanted to invest in China, which he said would be the biggest aviation market in 10 years, and also remains interested in Italy's Alitalia. Van Wijk reiterated that Air France KLM could consider taking a stake in Alitalia if the airline was privatized. Oct 4, 2006
Air France-KLM Group[acute accent acute accent
A mark (´) indicating:
a. that a vowel is close or tense, as é in French été.
b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek.
c. ]s seat capacity for the winter 2006/2007 season will grow overall by 3.6% compared with last year, 3% increase on the long haul Long distance. Long haul implies traversing a state or a country. Contrast with short haul. network and 5.7% on the medium haul routes. Both airlines will expand to long haul destinations, particularly Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. (up 9.5%) and Asia (up 6.1%). Capacity to Africa and the Middle East will be increased by 2.1%. For North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. it remains more or less the same but for the French Caribbean The term French Caribbean varies in meaning with its usage and frame of reference. This ambiguity makes it very different from the term French West Indies, which refers to the specific, formal French possessions in the Caribbean region. and Indian Ocean Indian Ocean, third largest ocean, c.28,350,000 sq mi (73,427,000 sq km), extending from S Asia to Antarctica and from E Africa to SE Australia; it is c.4,000 mi (6,400 km) wide at the equator. It constitutes about 20% of the world's total ocean area. destinations there is a reduction 1.9%. On the medium-haul network, Air France is boosting capacity mainly to Eastern Europe. Gatwick - Nantes and Dublin - Bordeaux services are being dropped. The airline will run seven flights a day between Dublin and Paris and three a day between Edinburgh and the French capital. http://www.airfrance.com Oct 2, 2006
Air France KLM's Van Wijk said the Franco-Dutch airline expected to invest much of the merger savings in new planes, noting that KLM had several Boeing 747s that were 25 years old, the company needed to replace MD-11s and Air France is buying new A380s. Oct 4, 2006
Air France KLM dampened talk of a rapid merger with Alitalia in August, after the Italian flag carrier said a new plan was needed to turn the company around after abandoning a promise to turn a profit in 2006. Oct 4, 2006
Austrian Airlines To Raise USD$445 Mln After Losses. Loss-making Austrian Airlines plans to raise EUR350 million euros (USD$445 million) in a rights issue backed by key shareholders to underpin a return to profitability, the carrier said on Tuesday. Austrian Airlines said it will offer up to 68 million new shares in the rights issue at close to market prices, probably this year. The Austrian government and a group of Austrian banks will fully subscribe to the issue, Austrian said. Austrian had a net loss of EUR129.1 million (USD$164.2 million) last year and in July scrapped its plan to break even this year, predicting another loss as fuel prices rose. The carrier could not even hedge against high fuel prices recently because its share capital base was too thin to underpin such hedges. Austrian media speculated for months that a bigger rival could buy a stake in Austrian and inject fresh cash, mentioning Germany's Lufthansa and Air France as potential buyers. But Austria's government as well as the chief executives of several large companies said an independent Austrian Airlines with its central European network was an important factor for Vienna as a financial and business hub for the region. Austria owns 39.7 percent in the struggling carrier. A consortium including Bank Austria Creditanstalt, Vienna Insurance Group, Raiffeisen Zentralbank and BAWAG BAWAG Bank für Arbeit und Wirtschaft (Austria) P.S.K. owns 10.3 percent. Oct 3, 2006
Editor: Aram Gesar, eMail: edit@AirGuideOnline.com
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Oct 2, 2006