air france expects to return to profitability in 2014
Last Updated : GMT 23:05:31
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Air France expects to return to profitability in 2014

Arab Today, arab today

Arab Today, arab today Air France expects to return to profitability in 2014

Paris - XINHUA

After a negative performance at the start of 2013, France\'s flagship carrier Air France planned to return to profit in 2014 thanks to the company\'s restructuring program based on jobs cut, head of the whole Air France-KLM group said on Monday. \"Air France-KLM will report gains from 2013 and Air France by 2014, which means we\'ll have tools to develop ourselves and to open new lines (mainly in Africa, Asia and Latin America),\" said Alexandre de Juniac. During the first six months of this year, Air France posted negative net results at 793 million euros (1.08 billion US dollars) due to a dim performance by the group\'s medium-haul and cargo operations. Air France, part of Franco-Dutch group Air France-KLM, announced an increase in its lay-off numbers to 2,800 in 2014 following a weak travel demand and stronger competitions. \"Air France is being saved. Without this reform, (the company) risked to disappear or become a small regional company in face of international giants,\" de Juniac told the local broadcaster Europe 1 in an interview. The slash of the jobs is part of the Air France-KLM\'s restructuring program, which is designed to lower the airline firm\'s debt by 2 billion euros out of its 6.5-billion-euro debt by the end of 2014. In a statement released also on Monday, the airline announced a 0.7-percent rise in its passenger traffic in September after recording 6.930 million passengers, up 0.2 percent from the same month last year. (1 euro = 1.36 US dollars)

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