Air France–KLM is a Franco-Dutch airline holding company incorporated under French law with its headquarters at Paris–Charles de Gaulle Airport in Tremblay-en-France, near Paris. The group has offices in Montreuil, Seine-Saint-Denis, Paris, and in Amstelveen, Netherlands.Air France–KLM is the result of the merger in 2004 between Air France and KLM.In 2008, it was the largest airline company in the world in terms of total operating revenues, and also the largest in the world in terms of international passenger-kilometres. The company's CEO since 17 October 2011 is Jean-Cyril Spinetta.Both Air France and KLM are members of the SkyTeam airline alliance. They offer a frequent flyer programme called Flying Blue. The company's namesake airlines rely on two major hubs: Paris–Charles de Gaulle Airport and Amsterdam Airport Schiphol.Air France–KLM Airlines transported 78.45 million passengers in 2013. Wikipedia.


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News Article | May 4, 2017
Site: globenewswire.com

Loss (gain) on disposals of tangible and intangible assets


News Article | May 4, 2017
Site: globenewswire.com

Loss (gain) on disposals of tangible and intangible assets


News Article | May 4, 2017
Site: globenewswire.com

The Board of Directors of Air France-KLM, chaired by Jean-Marc Janaillac, met on 3rd May 2017 to approve the accounts for the First Quarter 2017 Air France-KLM carried 20.9 million passengers during the first quarter 2017, an increase of 5.2% over last year. The passenger capacity measured in ASKs was up 3.3% and traffic measured in RPKs up 4.2% resulting in the Group loadfactor to increase by 0.7pts to 85.4%. Revenues amounted to 5.7 billion euros, up 1.9% compared to 2016. The first quarter 2017 confirms a resilient start of the year. The operating result stood at -143 million euros, down 44 million and up 28 million euros at constant currency. At constant currency, the Group unit revenues measured in revenues per EASK were down 1.4%, confirming the improvement in trend observed since the end of 2016, driven by a decrease in the Passenger network unit revenue of 0.5%, a Transavia unit revenue decrease of 3.4% and a Cargo unit revenue decrease of 4.9%,. The operating result was mainly driven by the good unit cost performance, amounting to a saving of 89 million euros compared to last year. The unit cost per EASK was down by 1.7%, on a constant currency, fuel price and pension-related expense basis, against a capacity increase measured in EASK of +2.8%. The productivity, measured in EASK per FTE, increased by 5.1% at KLM  where the capacity increased by 5.4%, and by 1.8% at Air France despite capacity almost stable (+0.8%). The average number of staff decreased by 400 FTEs at constant scope (scope impacted by the sale of Cobalt at year end 2016 resulting in a decrease of 746 FTEs). As a result, the total employee costs including temporary staff decreased by 1.7% at 1,812 million euros. The fuel bill amounted to 1,120 million euros, a slight increase of 24 million euros, whereas the fuel bill in dollar was stable. The operating result was notably impacted by currency effects, which had a negative impact of 72 million euros. Adjusted for the interest portion of operating leases (1/3 of annual operating lease expenses), the operating margin was -0.8% versus -0.2% at 31 March 2016. EBITDA amounted to 269 million euros, stable compared to previous year. Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level The group net result stood at -216 million euros, a decrease of 61 million euros compared to the first quarter 2016. As announced at the Full Year 2016 results presentation, it has been decided to change the Cargo reporting as per fiscal year 2017 to include it in the passenger network results. As a result the business segment Network consists of both the passenger network and cargo business. The combined result amounted to -100 million euros, down 32 million euros and up 37 million euros at constant currency. The first quarter confirms the improvement in the passenger unit revenue. The capacity  measured in available seat kilometer (ASK) was up by 1.9%, wheres the traffic (RPK) increased by 2.8% leading to a loadfactor increase of 0.8 point. The unit revenue at constant currency was down 0.5% strengthened by the strong premium class performance with unit revenues at constant currency up by 4.9%. Both airlines are confirming the trend. With capacity stable (ASK +0.1%), the unit revenue at constant currency at Air France was stable at -0.1%, whereas the unit revenue at constant currency at KLM was down by 0.5% while capacity increased by 4.7%. A smooth turnaround for Cargo? During the quarter, the capacity measured in ATK was reduced by 1.1% in which full-freighter capacity was reduced by 14.8%. Due to the small increase in traffic (RTK) of 0.5%, the load factor increased month-by-month leading to a 1.0 point increase during the quarter. The unit revenue decrease was limited to 4.9% at constant currency. During the quarter, the third party revenues further increased, strengthening the growth of the Maintenance business. Third-party revenues amounted to 460 million euros, up by 6.7% driven by the contracts gained over the past few years. Over the period, the maintenance order book recorded a 7.0% increase to reach a record of 9.5 billion dollars, securing future growth. The ramp-up of Transavia is on track, with capacity up by 27% in France and up by 28% in the Netherlands. Transavia carried 2.5 million passengers, up 29%, capturing the growth in the European leisure market. The timing of Easter negatively impacted the unit revenue in March and the operating result. The reduction in net debt was supported by the improvement in the working capital. The operating free cash flow was positive at 329 million euros up by 133 million euros compared to 31 March 2016. As a result, net debt amounted to 3,378 million euros at 31 March 2017, versus 3,655 million euros at 31 December 2016, a decrease of 277 million euros. The adjusted net debt decrease by 137 million euros to 11,029 million euros. The global context remains highly uncertain regarding the geopolitical environment in which we operate and regarding the fuel prices. The forward bookings indicate a resilient start to the second quarter. The Group is targeting a growth for the passenger group (Air France, KLM and Transavia) of between 3.0% and 3.5% measured in ASKs for 2017 in order to regain the offensive in long-haul and to improve the performance in medium-haul. To improve its competitiveness, the Group plans to act on all levels by pursuing and amplifying the initiatives already under way in terms of unit cost reduction. The unit cost reduction target for 2017 is in excess of 1.5% at constant currency, fuel price and pension related expenses. Based on the forward curve of 21 April 2017, the full year 2017 fuel bill is expected to be slightly down in dollars compared to 2016 and to reach 4.7 billion euros[1]. Regarding the balance sheet, the Group is maintaining strict capex discipline, targeting positive free cash flow before disposals. The 2017 investment plan stands at between 1.7 billion euros and 2.2 billion euros. The Group is pursuing a further reduction in net debt, targeting an adjusted net debt to EBITDAR below 2.5x mid cycle by the end of 2020. We plan to present the comprehensive Trust Together vision at the forthcoming Investor Day, scheduled for 12 May 2017 at the Hilton Paris Charles de Gaulle Airport starting at 8:00am. The First Quarter 2017 accounts are not audited by the Statutory Auditors. The results presentation is available at www.airfranceklm.com on 4th May 2017 from 7:15 am CET. A conference call hosted by Mr Gagey (CFO) will be held on May 4th 2017 at 08.30. To connect to the conference call, please dial: NB: Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level. [1] Based on the forward curve of 21 April 2017, 2017 average Brent price of USD 54, average jet fuel market price of USD 511 per ton. Assuming exchange rate of USD 1.08 per euro for period April-December 2017.


News Article | May 4, 2017
Site: globenewswire.com

The Board of Directors of Air France-KLM, chaired by Jean-Marc Janaillac, met on 3rd May 2017 to approve the accounts for the First Quarter 2017 Air France-KLM carried 20.9 million passengers during the first quarter 2017, an increase of 5.2% over last year. The passenger capacity measured in ASKs was up 3.3% and traffic measured in RPKs up 4.2% resulting in the Group loadfactor to increase by 0.7pts to 85.4%. Revenues amounted to 5.7 billion euros, up 1.9% compared to 2016. The first quarter 2017 confirms a resilient start of the year. The operating result stood at -143 million euros, down 44 million and up 28 million euros at constant currency. At constant currency, the Group unit revenues measured in revenues per EASK were down 1.4%, confirming the improvement in trend observed since the end of 2016, driven by a decrease in the Passenger network unit revenue of 0.5%, a Transavia unit revenue decrease of 3.4% and a Cargo unit revenue decrease of 4.9%,. The operating result was mainly driven by the good unit cost performance, amounting to a saving of 89 million euros compared to last year. The unit cost per EASK was down by 1.7%, on a constant currency, fuel price and pension-related expense basis, against a capacity increase measured in EASK of +2.8%. The productivity, measured in EASK per FTE, increased by 5.1% at KLM  where the capacity increased by 5.4%, and by 1.8% at Air France despite capacity almost stable (+0.8%). The average number of staff decreased by 400 FTEs at constant scope (scope impacted by the sale of Cobalt at year end 2016 resulting in a decrease of 746 FTEs). As a result, the total employee costs including temporary staff decreased by 1.7% at 1,812 million euros. The fuel bill amounted to 1,120 million euros, a slight increase of 24 million euros, whereas the fuel bill in dollar was stable. The operating result was notably impacted by currency effects, which had a negative impact of 72 million euros. Adjusted for the interest portion of operating leases (1/3 of annual operating lease expenses), the operating margin was -0.8% versus -0.2% at 31 March 2016. EBITDA amounted to 269 million euros, stable compared to previous year. Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level The group net result stood at -216 million euros, a decrease of 61 million euros compared to the first quarter 2016. As announced at the Full Year 2016 results presentation, it has been decided to change the Cargo reporting as per fiscal year 2017 to include it in the passenger network results. As a result the business segment Network consists of both the passenger network and cargo business. The combined result amounted to -100 million euros, down 32 million euros and up 37 million euros at constant currency. The first quarter confirms the improvement in the passenger unit revenue. The capacity  measured in available seat kilometer (ASK) was up by 1.9%, wheres the traffic (RPK) increased by 2.8% leading to a loadfactor increase of 0.8 point. The unit revenue at constant currency was down 0.5% strengthened by the strong premium class performance with unit revenues at constant currency up by 4.9%. Both airlines are confirming the trend. With capacity stable (ASK +0.1%), the unit revenue at constant currency at Air France was stable at -0.1%, whereas the unit revenue at constant currency at KLM was down by 0.5% while capacity increased by 4.7%. A smooth turnaround for Cargo? During the quarter, the capacity measured in ATK was reduced by 1.1% in which full-freighter capacity was reduced by 14.8%. Due to the small increase in traffic (RTK) of 0.5%, the load factor increased month-by-month leading to a 1.0 point increase during the quarter. The unit revenue decrease was limited to 4.9% at constant currency. During the quarter, the third party revenues further increased, strengthening the growth of the Maintenance business. Third-party revenues amounted to 460 million euros, up by 6.7% driven by the contracts gained over the past few years. Over the period, the maintenance order book recorded a 7.0% increase to reach a record of 9.5 billion dollars, securing future growth. The ramp-up of Transavia is on track, with capacity up by 27% in France and up by 28% in the Netherlands. Transavia carried 2.5 million passengers, up 29%, capturing the growth in the European leisure market. The timing of Easter negatively impacted the unit revenue in March and the operating result. The reduction in net debt was supported by the improvement in the working capital. The operating free cash flow was positive at 329 million euros up by 133 million euros compared to 31 March 2016. As a result, net debt amounted to 3,378 million euros at 31 March 2017, versus 3,655 million euros at 31 December 2016, a decrease of 277 million euros. The adjusted net debt decrease by 137 million euros to 11,029 million euros. The global context remains highly uncertain regarding the geopolitical environment in which we operate and regarding the fuel prices. The forward bookings indicate a resilient start to the second quarter. The Group is targeting a growth for the passenger group (Air France, KLM and Transavia) of between 3.0% and 3.5% measured in ASKs for 2017 in order to regain the offensive in long-haul and to improve the performance in medium-haul. To improve its competitiveness, the Group plans to act on all levels by pursuing and amplifying the initiatives already under way in terms of unit cost reduction. The unit cost reduction target for 2017 is in excess of 1.5% at constant currency, fuel price and pension related expenses. Based on the forward curve of 21 April 2017, the full year 2017 fuel bill is expected to be slightly down in dollars compared to 2016 and to reach 4.7 billion euros[1]. Regarding the balance sheet, the Group is maintaining strict capex discipline, targeting positive free cash flow before disposals. The 2017 investment plan stands at between 1.7 billion euros and 2.2 billion euros. The Group is pursuing a further reduction in net debt, targeting an adjusted net debt to EBITDAR below 2.5x mid cycle by the end of 2020. We plan to present the comprehensive Trust Together vision at the forthcoming Investor Day, scheduled for 12 May 2017 at the Hilton Paris Charles de Gaulle Airport starting at 8:00am. The First Quarter 2017 accounts are not audited by the Statutory Auditors. The results presentation is available at www.airfranceklm.com on 4th May 2017 from 7:15 am CET. A conference call hosted by Mr Gagey (CFO) will be held on May 4th 2017 at 08.30. To connect to the conference call, please dial: NB: Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level. [1] Based on the forward curve of 21 April 2017, 2017 average Brent price of USD 54, average jet fuel market price of USD 511 per ton. Assuming exchange rate of USD 1.08 per euro for period April-December 2017.


Grant
Agency: European Commission | Branch: H2020 | Program: IA | Phase: GALILEO-1-2015 | Award Amount: 4.87M | Year: 2016

The HELIOS project aims at providing a Second Generation range of Beacons (SGB) and associated antennas designed to operate with the full capability of the new Meosar Cospas/Sarsat (C/S) International Programme (a satellite-based Search And Rescue (SAR) distress alert detection and information distribution system), embedded in the Navigation Satellite Systems as GALILEO. The Search & Rescue community is at a turn of its history. New satellite systems develops the MEOSAR constellation of Cospas-Sarsat system, EGNOS improves significantly the performance of localization introducing new capabilities and new operations impossible before, GALILEO unique differentiation with the RLS added to the performance of the system will contribute to save more lives at sea and on land. The key objectives of the HELIOS project are: 1 - Defining, developing Products (beacons and associated antennas) compatible with EGNSS & SAR services and latest end-users requirements. 2 - GALILEO EGNSS & SAR System validation. 3 - Certifications for commercialization. The HELIOS consortium composed of Orolia, Cobham aerospace communications, CNES, SIOEN, Air France, and Airbus, is involved in different relevant international working groups (Cospas-Sarsat, ICAO, EUROCAE), and will ensure that the development phase of the SGB will be in line with the compatibility and interoperability required by the Cospas-Sarsat. Gathering the knowledge of major players recognized in their industry worldwide, the HELIOS partners project will give the vehicle to the European Industry to lead the way for safer, more innovative systems responding to current and evolving market problems.


News Article | February 21, 2017
Site: techcrunch.com

If there’s one word that can describe Viva Technology (or “VivaTech” for short), it’s that it’s a ginormous conference. While it was just the first edition last year, 45,000 people made their way to Paris to talk about all things tech. VivaTech is back again this year, June 15-17. Last year, Mike and I didn’t know what to expect. But I think it’s fair to say that it was a good conference. As Mike wrote last year, “VivaTech is somewhat akin to a TechCrunch Disrupt, but with a broader mix of corporate and government involvement.” VivaTech is co-organized by the advertising company Publicis and major newspaper Les Échos. Last year, 5,000 startups, 6,000 CEOs, 250 investors and 5,000 students were there at some point during the three days of the conference. There were a ton of startup booths, as well as eight stages. And the team behind VivaTech plans to do just that once again. Everything will be refined, as the conference was organized quite quickly last year. So this time, they have more time to prepare and line up their speakers and startups. Today at the Élysée Palace, French president François Hollande, French digital minister Axelle Lemaire, Publicis, Les Échos and a bunch of other people introduced the event. It was a big splashy event with around 200 people from the tech ecosystem. “The first time I heard about VivaTech, I thought ‘oh no, not yet another big thing,’” Axelle Lemaire said. But she then said that France needed a major tech event to compete with other countries. “Today, VivaTech is clearly a success. That’s why they want to do it again, but this time, they’ll pay attention to details to turn it into a community venture so that it can become a major innovation event in France and across the world,” she said. She then listed many of her initiatives as digital minister. I’ve covered many of them on TechCrunch — La French Tech, the French Tech Ticket, the French Tech Visa, the Digital Republic bill, the gender diversity initiative and more. French president François Hollande spent most of his speech making jokes — he only has a couple of months left as the French president after all. “Maurice Lévy is good when it comes to communication, and I should have talked with him more often,” he said. “France is the second European country for startup funding rounds,” Hollande said. “And we’ve been first for the number of transactions since January.” “Five years ago, when I heard about [the CES conference] in Las Vegas, there were very few French startups. Today, we’re the second biggest country. And we hope that we can become the first one in a few years — the president of the U.S. is helping us.” It’s weird that French politicians have been fascinated with CES like it’s the ultimate tech event. There are many tech events out there, but somehow CES is the gold standard for ministers, political candidates and French presidents. Hollande also listed all the reasons why France has become more favorable for startups. Arguably, it has never been easier to create a startup in France, and he hopes that the next French president is going to follow the same path. Other speakers included VivaTech’s co-directors Julie Ranty-Déchelette and Maxime Baffert. They announced the first partners of Viva Technology. Maurice Lévy announced some of the first speakers, such as Peter Fenton from Benchmark, Eric Schmidt from Alphabet, Daniel Zhang from Alibaba and Dan Schulman from PayPal. In short, VivaTech 2017 is going to be like VivaTech 2016, but more polished. There will be fewer stages, so the content should be more focused. There will be big companies like AccorHotels, Air France KLM, Carrefour, LVMH, TF1 Group and more. And finally, there will be thousands of entrepreneurs. Les Échos CEO Francis Morel was also on stage to talk about the event. And LVMH CEO Bernard Arnault was also at the event. At first I didn’t really understand what Arnault was doing there, but then I remembered that Arnault is the main investor in Les Échos. At least it was a good opportunity for a family photo with Lévy, Hollande and Arnault:


News Article | February 16, 2017
Site: globenewswire.com

Jean-Marc Janaillac a déclaré : "Dans un environnement contrasté, Air France-KLM réalise sur l'exercice 2016 des résultats en amélioration, reflétant les actions et les efforts des salariés ainsi que la fidélité de nos clients. Tandis que la baisse du prix du pétrole a nettement allégé les coûts du groupe, le contexte géopolitique, la concurrence et la surcapacité de l'industrie ont entraîné nos recettes à la baisse. Avec Trust Together, notre projet stratégique, nous sommes pleinement engagés pour reprendre l'offensive, renforcer notre capacité à innover et améliorer notre compétitivité. Dans un contexte économique et géopolitique qui demeure très incertain, et face à une concurrence agressive, le statu quo n'est pas une option." L'augmentation du résultat d'exploitation 2016 est due principalement à l'effet favorable du carburant ainsi qu'à la bonne performance en matière de coûts, tandis que la pression sur les recettes unitaires et le change ont eu un impact négatif. Le coût unitaire par ESKO a reculé de 1,0% à change, prix du carburant et charges liées aux retraites constants, en ligne avec l'objectif, pour la capacité mesurée en ESKO en hausse de +1,0 %. Ajusté pour la grève et corrigé de l'augmentation du coût de l'intéressement, le coût unitaire par ESKO a baissé de 1,7%. Le nombre moyen d'effectifs a baissé de 1 850 en ETP (1400 ETP chez Air France, 450 ETP chez KLM), ce qui a permis une augmentation de la productivité mesurée en ESKO par ETP de 2,3 % à Air France et de 4,2 % à KLM. Par conséquent, les frais de personnel ont reculé de 0,5 % à charges liées aux retraites et intéressement constants, grâce aux efforts de restructuration menés chez Air France et KLM, en tenant compte d'une augmentation nette de l'intéressement de 77 millions d'euros. Les charges de personnel totales incluant le personnel intérimaire sont restées inchangées (en hausse de 0,1 %) à 7 474 millions d'euros. Sur l'année 2016, les devises ont eu un impact négatif de 97 millions d'euros sur le chiffre d'affaires, principalement dû à la faiblesse de plusieurs devises et notamment le GBP, le BRL et le CNY. L'effet négatif des devises sur les coûts s'est établi à 192 millions d'euros, sous l'effet du renforcement du dollar. L'impact net des changes sur le résultat d'exploitation a été donc négatif à hauteur de 289 millions d'euros. Le Groupe a poursuivi la restructuration de son activité cargo, permettant son redressement progressif, afin de l'adapter à la faiblesse du commerce mondial et à la situation de surcapacité structurelle du secteur, et pour maximiser sa contribution au Groupe. Sur l'année 2016, la capacité tout-cargo a été réduite de 24 % avec une réduction à six du nombre totale d'avions tout-cargo, ce qui a entraîné une diminution de la capacité totale cargo de 4,6 %. Grâce aux efforts de restructuration, les coûts unitaires hors carburant ont baissé de 2,6 % à données comparables, en raison principalement d'une réduction des effectifs de 6,7 % sur l'année, tandis que la productivité mesurée en TKO par ETP a progressé de 2,3 %. Les pertes de l'activité tout cargo ont été réduites de 14 millions d'euros supplémentaires, impliquant une perte d'exploitation de 28 millions d'euros. Dans l'année 2016, le chiffre d'affaires externe et le résultat d'exploitation ont de nouveau progressé, soutenant la croissance de l'activité maintenance et confirmant sa position de leader du marché mondial de la maintenance aéronautique. Le chiffre d'affaires externe s'est établi à 1 834 millions d'euros, en hausse de 16% grâce aux contrats gagnés ces dernières années. Sur l'exercice, le carnet de commande a enregistré une hausse de 6,0 % pour atteindre un niveau record de 8,9 milliards de dollar en fin d'année, incluant plusieurs contrats de supports équipements sur les nouveaux A350 et B787, assurant ainsi la croissance future et son ambition de création de valeur. La marge d'exploitation a progressé de 0,3 points à 5,7 % (résultat d'exploitation/chiffre d'affaires total), propulsée par la croissance des activités Moteurs et Equipements, et l'augmentation de la marge contributive de l'activité Cellules. Le dévéloppement accéleré de Transavia est en ligne avec son plan de marche, et a conduit à un résultat d'exploitation à l'équilibre pour l'année 2016, avec  des vols sur plus de 100 destinations et 13,3 millions de passagers transportés. La capacité en France a progressé de 23 %, tandis que la capacité aux Pays Bas a été en hausse de 11%. Désormais, Transavia est maintenant le premier opérateur low-cost aux Pays Bas et à Paris Orly, et est bien positionnée pour capter sa part de la croissance du marché loisir europeén. Sur l'exercice,  la liquidité a été à nouveau renforcée et les coûts financiers encore réduits. Le Groupe continue de bénéficier d'un bon niveau de liquidité, avec une trésorerie nette de 4,3 milliards d'euros au 30 décembre 2016, et des lignes de crédit non tirées de 1,8 milliards d'euros. En 2016, le Groupe a placé avec succès une émission obligataire à six ans d'un montant de 400 millions d'euros et 145 millions de dollars US d'obligations à 10 ans.


News Article | February 16, 2017
Site: globenewswire.com

The Board of Directors of Air France-KLM, chaired by Jean-Marc Janaillac, met on 15th February 2017 to approve the accounts for the Full Year 2016. Jean-Marc Janaillac made the following comments: "Within a contrasting environment, Air France-KLM delivered an improvement in its 2016 results, reflecting the initiatives and efforts of its employees and the loyalty of customers. While the fall in the oil price significantly reduced the Group's costs, the geopolitical context, competition and industry overcapacity all resulted in lower unit revenues. With Trust Together, our strategic project, we are resolutely committed to regaining the offensive, reinforcing our ability to innovate and improving our competitiveness. In an economic and geopolitical context that remains very uncertain, and faced with aggressive competition, the status quo is not an option." * Reclassification of Servair as a discontinued operation: the consolidated financial statements of the Group were revised as of 1st January 2016 in order to reflect Servair as a discontinued operation. The 2015 financial statements have been restated accordingly. Details of this restatement can be found in the appendix of this press release. Air France-KLM carried 93.4 million passengers in 2016, an increase of 4.0% over last year. Revenues amounted to 24.8 billion euros, down 3.3% compared to 2015. The full year 2016 results were in line with targets with the main KPIs showing an improvement. The operating result stood at 1,049 million euros, up 269 million and up 558 million euros excluding currency effects. The operating result was notably impacted by a pilots strike in June and a cabin crew strike in July, which had a negative effect of 130 million euros. Adjusted for the interest portion of operating leases (1/3 of annual operating lease expenses), the operating margin was 5.7% versus 4.4% at 31 December 2015. EBITDA amounted to 2,714 million euros, an increase of 327 million euros The increase in the 2016 operating result was mainly driven by the fuel tailwind and the good cost performance, while there were negative effects coming from the pressure on unit revenues and currencies. The unit cost per EASK was down in line with the target of 1.0%, on a constant currency, fuel price and pension-related expense basis, against a capacity increase measured in EASK of +1.0%. On a strike-adjusted basis and corrected for the increase in profit-sharing expenses, the unit cost per EASK decreased by 1.7%. The average number of staff decreased by 1,850 FTEs (1,400 FTEs at Air France, 450 FTEs at KLM), resulting in a productivity increase measured in EASK per FTE of 2.3% at Air France and of 4.2% at KLM. As a result, on a constant pension-related expense and profit-sharing basis, employee costs decreased by 0.5% due to restructuring efforts in both Air France and KLM, taking into account a net increase in the profit-sharing expense of 77 million euros. Total employee costs including temporary staff were stable (up 0.1%) at 7,474 million euros. The fuel bill amounted to 4,597 million euros, a sharp 25.7% fall compared to 2015. The decrease was driven by the drop in the fuel market price which had a positive impact of 927 million euros and the drop in fuel hedging losses which were down 605 million euros compared to 2015. In the full year 2016, currencies had a negative 97 million euro impact on revenues, mainly driven by the weakening of several currencies, notably the GBP, BRL and CNY. The negative effect of currencies on costs amounted to 192 million euros driven by the strengthening of the dollar. The net impact of currencies on the operating result thus amounted to a negative 289 million euros. All businesses contributed to the improvement in operating result. The passenger network operating result amounted to 1,057 million euros, up 215 million euros and up 456 million euros excluding the negative currency effect. Despite the challenging operating environment, the Cargo results remained stable on a reported basis, whereas both Maintenance and Transavia recorded further improvement in their operating results. Both Air France and KLM contributed positively to the results. Full year 2016 operating result stood at 372 million euros at Air France and amounted to 681 million euros at KLM. * Reclassification of Servair as a discontinued operation. Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level A strong passenger network performance with relatively resilient unit revenues. Strict capacity discipline (available seat kilometer (ASK) up by 0.7%) and active yield management limited the downward pressure on unit revenue, particular on premium traffic, whose long-haul unit revenue declined by 1.4%. Ancillary revenues (paid options) were up by 12% amounting to 515 million euros. On the long-haul network, capacity measured in ASKs was up 0.6%, while unit revenue was down 4.7% excluding currency impact. In addition to the soft local flows to France as a result of terrorism, the capacity-demand imbalances observed on different parts of the network caused additional downward pressure on unit revenues. Nevertheless, the estimated long-haul operating result was up 250 million euros to 1,320 million euros. On the medium-haul hub feeding activity, capacity increased by 2.0%, whereas unit revenues decreased by 5.4% excluding currency. The medium-haul network was particularly impacted by the weak local flows to France affecting the operating result which decreased by 60 million euros. As planned, medium-haul point-to-point capacity was further reduced by 3.9%, leading to an improvement in unit revenues of 1.0%, contributing to the 20 million euros improvement in the point-to-point operating result. The Group continued to restructure its Cargo activity resulting in its gradual turnaround, in order to address the weak global trade and structural industry overcapacity, and to maximize its contribution to the Group.  During full year 2016, full-freighter capacity was reduced by 24% with a reduction of the number of full-freighters in operation to six, leading to a 4.6% decrease in total Cargo capacity measured in ATK. The ex-fuel unit cost was down 2.6% like-for-like as a result of the restructuring efforts, mainly driven by the 6.7% headcount reduction over the course of the year, while productivity measured in ATK per FTE increased by 2.3%. The losses on the full-freighters were further reduced by 14 million euros resulting in an operating loss of 28 million euros. It has been decided to change the Cargo reporting as per fiscal year 2017 based on contribution margin and to include it in the passenger network results. This change will be effective as from the Q1 2017 results presentation. In full year 2016, both third party revenues and the operating result further increased, strengthening the growth of the Maintenance business and securing its position as world leader in the airline MRO business. Third-party revenues amounted to 1,834 million euros, up by 16% driven by the contracts gained over the past few years. Over the period, the maintenance order book recorded a 6.0% increase to reach a year-end record of 8.9 billion dollars, including several new A350 and B787 support contracts, and securing future growth and its ambition of value creation. The operating margin was up by 0.3 points to 5.7% (operating result / total revenues) driven by the growth in the Engine and Component segments and the increase in contribution margin from the Airframe business. The accelerated ramp-up of Transavia is on track, resulting in a break-even operating result for the full year 2016. Transavia currently serves more than 100 destinations and carrying 13.3 million passengers. Capacity in France was up by 23%, whereas capacity in the Netherlands was up by 11%. Transavia is now the number one low cost carrier in the Netherlands and at Paris Orly, capturing the growth in the European leisure market. Due to the disciplined growth in investments, the free cash flow before disposals was positive at 347 million euros. Investment in the fleet continued to improve its competitiveness resulting in fuel efficiencies, lower maintenance costs and move up-market in terms of products and services. Net debt was further reduced thanks to free cash flow generation. As a result, net debt amounted to 3,655 million euros at 31 December 2016, versus 4,307 million euros at 31 December 2015, an improvement of 652 million euros despite currencies having a significant negative impact of 73 million euros. The Group sold a total of 4.95 millions of Amadeus shares representing 1.13% of the share capital and finalized the transaction to sell 49.99% of the Servair share capital and transfer its operational control to gategroup. 2016 is the fifth year of improvement in the adjusted net debt / EBITDAR ratio, which decreased to 2.9x at 31 December 2016 from 3.4x at 31 December 2015. During the course of the year the liquidity situation was further strengthened and finance costs further reduced. The Group continues to enjoy a good level of liquidity, with net cash of 4.3 billion euros at 31 December 2016, and undrawn credit lines of 1.8 billion euros. In 2016, the Group successfully placed a six-year bond for 400 million euros and an issue of ten-year senior notes for 145 million US dollars. The global context remains highly uncertain regarding the geopolitical and economic environment in which we operate, fuel prices and the ongoing overcapacity on several markets, resulting in pressure on unit revenues. However the January traffic statistics and forward bookings indicates a resilient start to the new year. In January 2017 the unit revenue was down by only 0.7% at constant currency for the passenger network and down only 0.6% at constant currency for Transavia. The Group is targeting a growth for the passenger group (Air France, KLM and Transavia) of between 3.0% and 3.5% measured in ASKs for 2017 in order to regain the offensive in long-haul and to improve the performance in medium-haul. To improve its competitiveness, the Group plans to act on all levels by pursuing and amplifying the initiatives already under way in terms of unit cost reduction. The unit cost reduction target for 2017 is in excess of 1.5% at constant currency, fuel price and pension related expenses. Based on the forward curve of 27 January 2017, the Full Year 2017 fuel bill is expected to increase by 100 million dollars compared to 2016 and to reach 4.9 billion euros[1], and the Full Year 2018 fuel bill is expected to increase to 5.0 billion euros[2]. Regarding the balance sheet, the Group is maintaining strict capex discipline, targeting positive free cash flow before disposals. The 2017 investment plan stands at between 1.7 billion euros and 2.2 billion euros. The Group is pursuing a further reduction in net debt, targeting an adjusted net debt to EBITDAR below 2.5x mid cycle by the end of 2020. We plan to present the comprehensive Trust Together vision at the forthcoming Investor Day, scheduled for 12 May 2017. The audit procedures for the consolidated accounts have taken place. The certification report will be published following the completion of the procedures necessary for the filing of the Registration Document. The results presentation is available at www.airfranceklm.com on 16 February 2017 from 7:15 am CET. An Analysts' Meeting hosted by Mr Janaillac (CEO) and Mr Gagey (CFO) will be held on 16 February 2017 at 08.30 CET at the Pullman Paris Tour Eiffel hotel, 18, avenue de Suffren (75015 Paris). A live webcast of the Analysts' Meeting will also be available on the website (password AFKL). To connect to the conference call, please dial: *  Operating free cash flow is including the LHR slot sale in October 2015, which is accounted for in net investments as intangible asset disposal NB: Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level. [1] 2017 average Brent price of USD 56, average jet fuel market price of USD 535 per ton, average exchange rate of USD 1.07 per euro [2] 2018 average Brent price of USD 56, average jet fuel market price of USD 555 per ton, average exchange rate of USD 1.07 per euro


News Article | February 21, 2017
Site: marketersmedia.com

This report studies sales (consumption) of Aircraft Maintenance in Global market, especially in United States, China, Europe, Japan, focuses on top players in these regions/countries, with sales, price, revenue and market share for each player in these regions, covering Air France KLM Engineering & Maintenance (The Netherlands) AAR Corp (US) Ameco Beijing (China) AMETEK MRO (US) Abu Dhabi Aircraft Technologies (UAE) Bedek Aviation Group (Israel) Delta TechOps (US) Aviation Technical Services, Inc (US) Hong Kong Aircraft Engineering Company (Hong Kong) TIMCO Aviation Services, Inc (US) Lufthansa Technik (LHT) (Germany) MTU AeroEngines (Germany) Singapore Technologies Aerospace (ST Aerospace) (Singapore) SR Technics (Switzerland) SIA Engineering Co (Singapore) Snecma Services (France) STAECO (China) VEM/TAP M&E (Brazil) Market Segment by Regions, this report splits Global into several key Regions, with sales (consumption), revenue, market share and growth rate of Aircraft Maintenance in these regions, from 2011 to 2021 (forecast), like United States China Europe Japan Split by product Types, with sales, revenue, price and gross margin, market share and growth rate of each type, can be divided into Type I Type II Type III Split by applications, this report focuses on sales, market share and growth rate of Aircraft Maintenance in each application, can be divided into Application 1 Application 2 Application 3 Global Aircraft Maintenance Sales Market Report 2016 1 Aircraft Maintenance Overview 1.1 Product Overview and Scope of Aircraft Maintenance 1.2 Classification of Aircraft Maintenance 1.2.1 Type I 1.2.2 Type II 1.2.3 Type III 1.3 Application of Aircraft Maintenance 1.3.1 Application 1 1.3.2 Application 2 1.3.3 Application 3 1.4 Aircraft Maintenance Market by Regions 1.4.1 United States Status and Prospect (2011-2021) 1.4.2 China Status and Prospect (2011-2021) 1.4.3 Europe Status and Prospect (2011-2021) 1.4.4 Japan Status and Prospect (2011-2021) 1.5 Global Market Size (Value and Volume) of Aircraft Maintenance (2011-2021) 1.5.1 Global Aircraft Maintenance Sales and Growth Rate (2011-2021) 1.5.2 Global Aircraft Maintenance Revenue and Growth Rate (2011-2021) 7 Global Aircraft Maintenance Manufacturers Analysis 7.1 Air France KLM Engineering & Maintenance (The Netherlands) 7.1.1 Company Basic Information, Manufacturing Base and Competitors 7.1.2 Aircraft Maintenance Product Type, Application and Specification 7.1.2.1 Type I 7.1.2.2 Type II 7.1.3 Air France KLM Engineering & Maintenance (The Netherlands) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.1.4 Main Business/Business Overview 7.2 AAR Corp (US) 7.2.1 Company Basic Information, Manufacturing Base and Competitors 7.2.2 113 Product Type, Application and Specification 7.2.2.1 Type I 7.2.2.2 Type II 7.2.3 AAR Corp (US) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.2.4 Main Business/Business Overview 7.3 Ameco Beijing (China) 7.3.1 Company Basic Information, Manufacturing Base and Competitors 7.3.2 136 Product Type, Application and Specification 7.3.2.1 Type I 7.3.2.2 Type II 7.3.3 Ameco Beijing (China) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.3.4 Main Business/Business Overview 7.4 AMETEK MRO (US) 7.4.1 Company Basic Information, Manufacturing Base and Competitors 7.4.2 Nov Product Type, Application and Specification 7.4.2.1 Type I 7.4.2.2 Type II 7.4.3 AMETEK MRO (US) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.4.4 Main Business/Business Overview 7.5 Abu Dhabi Aircraft Technologies (UAE) 7.5.1 Company Basic Information, Manufacturing Base and Competitors 7.5.2 Product Type, Application and Specification 7.5.2.1 Type I 7.5.2.2 Type II 7.5.3 Abu Dhabi Aircraft Technologies (UAE) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.5.4 Main Business/Business Overview 7.6 Bedek Aviation Group (Israel) 7.6.1 Company Basic Information, Manufacturing Base and Competitors 7.6.2 Million USD Product Type, Application and Specification 7.6.2.1 Type I 7.6.2.2 Type II 7.6.3 Bedek Aviation Group (Israel) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.6.4 Main Business/Business Overview 7.7 Delta TechOps (US) 7.7.1 Company Basic Information, Manufacturing Base and Competitors 7.7.2 Aerospace & Defense Product Type, Application and Specification 7.7.2.1 Type I 7.7.2.2 Type II 7.7.3 Delta TechOps (US) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.7.4 Main Business/Business Overview 7.8 Aviation Technical Services, Inc (US) 7.8.1 Company Basic Information, Manufacturing Base and Competitors 7.8.2 Product Type, Application and Specification 7.8.2.1 Type I 7.8.2.2 Type II 7.8.3 Aviation Technical Services, Inc (US) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.8.4 Main Business/Business Overview 7.9 Hong Kong Aircraft Engineering Company (Hong Kong) 7.9.1 Company Basic Information, Manufacturing Base and Competitors 7.9.2 Product Type, Application and Specification 7.9.2.1 Type I 7.9.2.2 Type II 7.9.3 Hong Kong Aircraft Engineering Company (Hong Kong) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.9.4 Main Business/Business Overview 7.10 TIMCO Aviation Services, Inc (US) 7.10.1 Company Basic Information, Manufacturing Base and Competitors 7.10.2 Product Type, Application and Specification 7.10.2.1 Type I 7.10.2.2 Type II 7.10.3 TIMCO Aviation Services, Inc (US) Aircraft Maintenance Sales, Revenue, Price and Gross Margin (2011-2016) 7.10.4 Main Business/Business Overview 7.11 Lufthansa Technik (LHT) (Germany) 7.12 MTU AeroEngines (Germany) 7.13 Singapore Technologies Aerospace (ST Aerospace) (Singapore) 7.14 SR Technics (Switzerland) 7.15 SIA Engineering Co (Singapore) 7.16 Snecma Services (France) 7.17 STAECO (China) 7.18 VEM/TAP M&E (Brazil) For more information, please visit https://www.wiseguyreports.com/sample-request/768017-global-aircraft-maintenance-sales-market-report-2016


News Article | February 21, 2017
Site: www.tnooz.com

CarTrawler‘s latest ancillary revenue collaboration with IdeaWorks focuses on mobile and shows that airlines are coping better with selling seat selection than checked-in baggage. The report looks at how 25 airlines perform, with IdeaWorks opting for Android over iOS because, globally, Android is used on nearly nine in ten of the world’s smartphones. The airlines were chosen based on passenger traffic data. Ryanair, IndiGo, Emirates and Air France were highlighted as providing examples of great mobile retailing, with Ryanair “the most advanced of those reviewed for this report.” IdeaWorks specifically likes how Ryanair’s Android app works for seat allocations, with the carrier also getting the thumbs up for having incorporated five or more a la carte option to its mobile booking menu. But it is seat selection and checked baggage which IdeaWorks focuses on, thinking along the lines that these are the ancillary items most popular with passengers on desktops (and thereby generating the most revenues for the airlines). It found that while seat selection is generally working well on mobile, many airlines are struggling to when it comes to selling checked-in baggage. JetBlue, for example, is highlighted as having a disconnect between how its branded fares are displayed on desktop and on mobile, with the latter “very unfriendly for shoppers.” Air France, on the other hand, has mastered selling bags online by following three simple steps – let the passenger know what bags are included in the fare, make sure the fees are displayed clearly and offer the option to click for more details. But ancillaries is about more than seat assignment and bags – the study talks about “airport lounge access, bonus miles, rail ticket connections, and even paying to have your pet join you in the passenger cabin.” IndiGo offers its passengers the chance to pre-order meals through a clean and efficient design, but is missing out by not going into more detail (or rather, not giving passengers the option for more details). The study concludes with a handy summary of what airlines’ mobile presence needs. Click here to read the 15-page report in full as a PDF. NB Image by Reno Martin/BigStock

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