Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

UPDATE 1-Air France plans to cut 6,500 jobs by 2022 - sources

Tue, 30th Jun 2020 15:01

(Adds details on cuts)

By Maya Nikolaeva and Caroline Pailliez

PARIS, June 30 (Reuters) - Air France aims to
present a plan to trade unions to cut just over 6,500 jobs over
the next two years, three sources familiar with the matter said
on Tuesday, as the airline grapples with the coronavirus crisis.

France's flagship airline, part of the Air France-KLM group,
is cutting capacity and exiting loss-making domestic routes as
the pandemic hits international travel.

On top of the 6.500 staff cuts - roughly representing just
under 15% of employees such as pilots, ground staff and flight
attendants - an additional 1,000 layoffs would be made at Air
France's "HOP!" airline, one of the three sources said.

BFM TV and Agence France Presse earlier reported 7,500
looming job losses.

Air France declined to comment on its labour plans. It is
expected to hold talks with unions on Friday.

Some 3,500 of the job cuts would come from natural attrition
- such as retirements and not replacing leavers, two of the
sources said.

Under CEO Ben Smith, who joined from Air Canada in 2018, Air
France-KLM has sought to cut costs, improve French labour
relations and overcome governance squabbles between France and
the Netherlands, which each own close to 14% of the group.

Now saddled with 10.4 billion euros in government bailout
debt to cope with the pandemic - including last week's 3.4
billion Dutch contribution - Air France-KLM must now step up
restructuring to stay competitive and independent.

Rivals have moved faster to announce job cuts, with British
Airways planning to axe 12,000 positions and easyJet
4,500, amounting to 30% of their respective workforces.

Lufthansa Group is also cutting the equivalent of
22,000 full-time positions, or 16%.

But a mature staff including many close to retirement should
help Air France meet voluntary redundancy targets, Smith told
Reuters as restructuring talks opened in May.

Ground-based staff are expected to bear the brunt of job
cuts, the sources said.
(Reporting by Maya Nikolaeva, Caroline Pailliez, and Sarah
White, editing by Louise Heavens and Mark Potter)

Related Shares

More News
15 Mar 2024 13:11

UK dividends calendar - next 7 days

14 Mar 2024 10:58

IN BRIEF: easyJet prices EUR850 million of bonds at 3.75% coupon

easyJet PLC - Luton, England-based budget carrier - Prices EUR850 million of bonds under its medium-term note programme to be issued on Wednesday next...

3 Mar 2024 15:16

Sunday newspaper round-up: EasyJet, Direct Line, Cairo

(Sharecast News) - EasyJet founder Sir Stelios Haji.Ioannou has called time on his long-running feud with the "scoundrels" running the carrier. Haji-I...

1 Mar 2024 08:56

Ryanair forced to cut summer travel schedule due to late Boeing jets

(Alliance News) - Ryanair Holdings PLC on Friday said it will have to reduce its planned flying schedule during the key summer months this year, due t...

28 Feb 2024 18:09

TOP NEWS: easyJet flies back into FTSE 100; Endeavour relegated

(Alliance News) - Budget carrier easyJet PLC has been promoted back to the FTSE 100 index following the latest quarterly review, replacing gold miner ...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.