September 29 2022, Kimpton Fitzroy London
Friday 30 September 2022, JW Marriott Grosvenor
21 November 2022, Hilton London Metropole
Air France KLM today (October 24) issued a profit warning saying it would be "very difficult" to reach its target of a €1bn operating surplus this financial year.
The announcement sent the airline's shares falling by nearly 10%.But the carrier, the largest in the world in terms of revenue, said it would still be "comfortably" in profit as long as the economic crisis did not get worse.Air France KLM said it would be implementing an immediate cost cutting plan and would also reduce its investments but did give details.A statement by the carrier said: "Given the current economic climate, the group indicates that it will find it very difficult to reach its target of €1bn in operating profit for the current financial year.""Nonetheless, this item should remain comfortably in positive territory if current market conditions do not deteriorate further."A report by Reuters said that senior airline officials were today briefing institutional investors at pre-planned meetings.Jean-Cyril Spinetta, the chairman and ceo of the airline, met union representatives earlier this week and told them there might be zero growth over the next two years.The carrier has already cut its planned capacity growth from an original target of 4%.Visit www.airfrance.com and www.klm.com