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Air France-KLM set to accelerate and expand its restructuring plans

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Air France-KLM set to accelerate and expand its restructuring plans

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Air France-KLM is set to accelerate and expand its restructuring plans. The latest measures announced by Europe’s second-largest network carrier include 300 million euros in administrative cost cuts of which half have already been identified but not previously revealed.

The news comes as the company reported lower second-quarter operating profit and slipped further in to the red with a net quarterly loss of 79 million euros.

The Franco-Dutch airline group also expects to scale back capacity growth plans for the winter season amid a tough climate in Japan, Brazil and its traditional African oil routes.