Air France reports $1.06 billion net loss
China Daily | Updated: 2012-03-09 07:32
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Jean-Cyril Spinetta, CEO of Air France-KLM Group, froze pay and hiring in January and began productivity talks with unions, hoping to deliver 2 billion euros ($2.65 billion) in annual savings. Chris Ratcliffe / Bloomberg |
Air France-KLM Group, Europe's biggest airline, reported a full-year loss as a sluggish economy and high fuel costs crimped earnings and said results for the current six months will show a further deterioration.
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