Air France-KLM in €1.4bn efficiency drive

Airline Air France-KLM booked a 2.4% reduction in net profit in its 2006/2007 book year, the company announced on Thursday. Net profit reached €891m on turnover up 7.6% at €23bn. .

The company also announced a €1.4bn cost cutting exercise to be spread over three years.
CFO Philippe Calavia said the savings would be made through measures to create greater efficiency and there was no question of jobs being cut

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