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Air France KLM reaches pensions deal for KLM staff

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Air France KLM reaches pensions deal for KLM staff

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PARIS (Reuters) – Air France KLM <AIR.PA> has struck a pensions scheme deal for its KLM pilot and cabin staff unions, in changes that the airline said would have a 311 million euros (£277 million) impact in the third quarter. The airline said that in future, the KLM pensions scheme would qualify as a collective defined contribution scheme, and yearly pension contributions would have a limited volatility. KLM would make a one-off lump sum payment of 194 million euros to the pension fund, it said.

(Reporting by Sudip Kar-Gupta; Editing by Gopakumar Warrier)
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