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.
News Article | July 26, 2017
Air France have released a report detailing their free baggage drop off service at Paris-Charles de Gaulle airport. Air France is a premier airline in France that offers flights to destinations around the world. For more information please visit the website here: http://airfrance.fr. Air France is one of the biggest airlines in France, whose global hub is at Charles de Gaulle Airport and corporate headquarters at Orly Airport. They have been in operation since 1933 and provide thousands of domestic and international flights every year. The airline are offering their passengers a free baggage drop off service, which can hep them to save time and money. Passengers at Paris-Charles de Gaulle can drop off their baggage between 4:30 PM and 8:30 PM the day before their departure. This service is located at Terminal 2F, Departures level, Check-in area 3. This service offers passengers the opportunity to arrive at the airport in advance of their flight and to check in their baggage early, so that when they depart the next day they can forget about their bags and queueing and can relax before their flight. Using this service also offers the passenger to save 20% on any excess baggage they may have. To make flying even more stress free and relaxing Air France provide the Instant Paris area at Paris-Charles de Gaulle Airport. Once a customer has taken advantage of the free baggage drop off service they can then go through passport control and sleep overnight at the airport. When the time for departure arrives, passengers can then simply go straight to the boarding gate. Instant Paris is designed to be an authentic Parisian style apartment, with a dining room, a living room and a games area. There is also a library with books in different languages for some tranquil pre-flight reading. This is ideal for those with long waits between flights or those arriving early. Those wishing to find out more about Air France and its baggage drop off service can visit the website on the link provided above. For more information, please visit http://Www.airfrance.com%20
News Article | July 28, 2017
Le Conseil d'Administration d'Air France-KLM, présidé par Jean-Marc Janaillac, s'est réuni le 27 juillet 2017 pour approuver les comptes du 1er semestre 2017. Jean-Marc Janaillac a fait le commentaire suivant : « Dans un contexte de croissance solide du trafic et d'amélioration de la tendance sur la recette unitaire, Air France-KLM a amélioré son résultat d'exploitaiton et son cash flow libre d'exploitation. Sur cette période, le Groupe continue d'exécuter ses priorités stratégiques d'augmentation des recettes et d'amélioration de sa compétitivité. L'accord signé avec les pilotes d'Air France en juillet permet au Groupe de lancer la création de Joon en ligne avec le calendrier initial. Je suis aussi très heureux du renforcement de notre réseau d'alliances : la combinaison de notre alliance nord-atlantique avec Delta avec la joint-venture de Delta et Virgin Atlantic, et le renforcement de notre partenariat avec China Eastern positionnent Air France-KLM comme le pillier européen du premier réseau mondial de compagnies aériennes. Ce sont des étapes importantes qui montrent qu'Air France-KLM est sur la bonne voie pour réaliser les objectifs stratégiques de Trust Together.» Sur le premier semestre, le coût unitaire par ESKO a baissé de 1,0% avec une capacité en hausse de 3,8%. Le coût unitaire du second trimestre par ESKO a baissé de 0,3% à change, prix du carburant et charges de retraites constants, avec une augmentation des capacités mesurée en ESKO de 4,7%. Le résultat des mesures et initiatives de réduction de coûts a partiellement été compensé par une hausse des coûts variables liés l'augmentation du coefficient d'occupation. Supérieur à celui de l'année dernière, il a pesé pour 0,3% sur le coût unitaire sur le second semestre et 0,2% sur le premier semestre. En plus de l'augmentation de coûts liée à la hausse du coefficient d'occupation, l'intéressement a augmenté au premier semestre 2017 du fait de la date de comptabilisation de ces dépenses. Cela a entraîné une augmentation de 0,6% au second trimestre et 0,2% au premier semestre 2017. La productivité du second trimestre, mesurée en ESKO par ETP, a augmenté de 5,6% pendant que la capacité a augmenté de 4,7%. Le nombre moyen de salariés a baissé de 700 ETP avec une augmentation de 600 ETP pour les personnels navigants commerciaux liée à l'accroissement des capacités. Dû à la saisonnalité et un effet calendaire , les coûts salariaux ont augmenté de 1,9% et les dépenses d'investissement ont augmenté de 36 millions d'euros. Pour l'année 2017, les coûts de personnel devraient augmenter de moins de 1,0% par rapport à l'année dernière. * L'Investissement net avant sale & lease-back est défini par la somme des 'Produits de cession d'immobilisations corporelles et incorporelles' et 'Produits de cession d'immobilisations corporelles et incorporelles' tel que présenté dans le tableau des flux de trésorerie consolidé Pour reprendre l'offensive sur le long-courrier et améliorer la performance du moyen-courrier, le Groupe maintient sa croissance cible sur 2017 pour le passage Groupe (Air France, KLM et Transavia) entre 3,0% et 3,5% mesurée en SKO. Pour renforcer sa compétitivité, le Groupe poursuit et amplifie les initiatives déjà engagées en matière de réduction des coûts unitaires. Malgré l'impact négatif sur l'évolution du coût unitaire d'un coefficient d'occupation en hausse et du profit-sharing, le Groupe attend pour 2017 une réduction du coût unitaire entre 1,0% et 1,5% à change, prix du carburant et charges de retraites constants.
News Article | July 28, 2017
The Board of Directors of Air France-KLM, chaired by Jean-Marc Janaillac, met on 27th July 2017 to approve the accounts for the First Half 2017. Jean-Marc Janaillac made the following comments: "In a context of solid traffic growth and enhanced unit revenue trend, Air France-KLM delivered improved operating income and operating free cash flow. Over the period, the Group continued to execute on its strategic priorities of growing revenues and improve competitiveness. The agreement reached with Air France pilots in July allows the Group to launch the creation of Joon in line with the original schedule. I am also very pleased with the strengthening of our network of alliances: the combination between our North-Atlantic alliance with Delta and Delta and Virgin Atlantic joint-venture, and the reinforcement of our partnership with China Eastern position Air France-KLM as the European pillar of the leading global airline network. These are important milestones showing that Air France-KLM is on the right path to achieve Trust Together's strategic objectives." Network: Main contributor to the increase in the Group's operating result As announced at the Full Year 2016 results presentation, the busines segment Network consists now of both the Passenger network and Cargo business. The combined operating result amounted to 309 million euros during the First Half 2017, an improvement of 200 million euros at constant currency, driven by a solid traffic and unit revenue performance in the Passenger network. The Second Quarter confirms the improvement of the Passenger unit revenue performance in both Air France and KLM, up 1.5% at constant currency. On long haul, there was strong premium class performance with unit revenues up by 4.4% at constant currency and economy class up by 2.2%. The improvement was driven mainly by the strong recovery in Asia, with unit revenue up 8.6% at constant currency and Latin America, up 13.6% at constant currency. During the Second Quarter, the improvement in the Cargo performance was driven by a 2.7% increase in traffic resulting in a 0.7pt increase in load factor. The trend in unit revenue, down 1.3% during the Second Quarter, continued to improve compared to previous quarters, confirming the gradual turnaround. Over the period, the Maintenance order book increased to a record high 9.7 billion dollars, reaching its target of growing the order book by 10% in 2017. The increase was driven by both the Engine and the Component order books. Transavia: On track for a positive result in 2017 Strong capacity growth (+13.7%) in combination with an increase in load factor (+1.5pts) and an 11.0% rise in unit revenue led to the strong positive Second Quarter result. The result was strengthened by the decrease in unit costs, down 4.2% at constant currency and fuel. The Group is expecting a positive result in 2017 for Transavia. The Second Quarter operating result improved by 179 million euros of which the increase in capacity translated into a positive 13 million euros contribution. The other items contributing are, at constant currency, the positive trend in group unit revenues resulting in an increase of 100 million euros, whereas the decrease in fuel price including hedge results contributed 74 million euros. Currencies had a negative impact on the operating result of 32 million euros. Adjusted for the interest portion of operating leases (1/3 of annual operating lease expenses), the operating margin stood at 8.9% versus 6.5% at 30 June 2016. Unit cost reduction impacted by increase in load factor and profit sharing During the First Half, the unit cost was down 1.0% with capacity up by 3.8%. The Second Quarter unit cost per EASK was down by 0.3%, on a constant currency, fuel price and pension-related expense basis, against a capacity increase measured in EASK of 4.7%. The results of the cost saving measures and initiatives were partly offset by higher flight variable costs related to the increasing load factor. The higher load factor compared to last year translated into a 0.3% increase in unit costs during the Second Quarter and 0.2% over the First Half 2017. In addition to the increase in costs related to the higher load factor, profit-sharing increased during the First Half 2017 due to the timing of the recording of these expenses. This resulted in an increase of 0.6% in the Second Quarter and 0.2% in the First Half 2017. Second Quarter productivity, measured in EASK per FTE, increased by 5.6% while capacity increased by 4.7%. The average number of staff decreased by 700 FTEs including an increase in Cabin crews by 600 FTEs linked to the increase in capacity. Due to seasonality and timing effects, net employee costs increased by 1.9% and the profit sharing expense increased by 36 million euros. For the Full Year 2017, the increase in the employee costs is expected to be less than 1.0% compared to the previous year. The Half Year fuel bill amounted to 2,280 million euros, stable compared to previous year. Net debt reduction supported by an improvement in EBITDA and working capital * Net investments before sale & lease-back is defined as the sum of 'Purchase of property, plant and equipment and intangible assets' and 'Proceeds on disposal of property, plant and equipment and intangible assets' as presented in the consolidated cash flow statement The net debt at 30 June 2017 amounted to 2,956 million euros, down 699 million euros compared to 31 December 2016. The reduction in net debt was supported by the improvement in both EBITDA and working capital. Operating free cash flow was positive at 668 million euros up by 295 million euros compared to 30 June 2016. The adjusted net debt decreased by 454 million euros to 10,712 million euros. Further strengthening of liquidity and continuous decrease in the net cost of debt The net cost of debt amounted to 113 million euros during the First Half 2017, down 21 million euros compared to last year, a continuation of the downward trend observed in recent years. The liquidity situation further improved by an increase in the net cash on balance sheet of 580 million euros to 4.9 billion euros. Contribution by airline to First Half results Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level The global context remains highly uncertain regarding the geopolitical environment in which we operate and regarding fuel prices. Long haul forward bookings for the coming four months are currently above previous year level. Based on the current outlook, the variation in unit revenue at constant currency is expected to be slightly up compared to last year for the Second Half 2017 . To regain the offensive in long-haul and to improve the performance in medium-haul, the Group is maintaining its targeted growth for the passenger group (Air France, KLM and Transavia) of between 3.0% and 3.5% measured in ASKs for Full Year 2017. To improve its competitiveness, the Group is pursuing and amplifying the initiatives already under way in terms of unit cost reduction. Despite the negative effects of the increased load factor and profit sharing on the unit cost evolution, the Group is expecting for 2017 a unit cost reduction between 1.0% and 1.5% at constant currency, fuel price and pension related expenses. Based on the forward curve of 14th July 2017, the second half 2017 fuel bill is expected to decrease by 100 million euros compared to 2016. 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 and is expected to be at the high end of the range. 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. The adjusted net debt to EBITDAR ratio is expected to improve at 31 December 2017 compared to the previous year ***** Limited review procedures were carried out by the external auditors. Their limited review report was issued following the Board Meeting. The results presentation is available at on 28th July 2017 from 7:15 am CET. An analysts' meeting will be hosted by Mr Janaillac (CEO) and Mr Gagey (CFO) on 28th July 2017 at 8:00am CET at the Pullman Paris Tour Eiffel hotel, 18, avenue de Suffren, Paris (15th arrondissement). A live broadcast of the analysts' meeting will be available at www.airfranceklm.com (password: AFKL) and by conference call. To connect to the conference call, please dial: * The capacity produced by the transportation activities is combined by adding the capacity of the Passenger network (in ASK) to that of Transavia (in ASK) and the Cargo business (in ATK) converted into EASK based on a separate fixed factor for Air France and for KLM.. NB: Sum of individual airline results does not add up to Air France-KLM total due to intercompany eliminations at Group level.  Based on the forward curve of July 14th 2017, Full Year 2017 average Brent price of USD 51, average jet fuel market price of USD 490 per ton. Assuming exchange rate of USD 1.12 per euro for July-December 2017 period.
News Article | July 27, 2017
Air France-KLM today announces a further major step in the strengthening of its strategic partnerships with, firstly, the creation of a single global joint-venture between Air France-KLM, Delta Air Lines (Delta) and Virgin Atlantic and, secondly, the strengthening of its partnership with China Eastern Airlines (China Eastern). These two commercial alliances will be strengthened by equity investments: The strategic, commercial and capitalistic reinforcement of these partnerships will position Air France-KLM as the European pillar of the leading global airline network. At the heart of the most global partnership in the airline industry Air France-KLM, Delta and Virgin Atlantic today signed a Memorandum of Understanding laying the foundations for a future combination of the existing joint-ventures between firstly Air France-KLM, Delta and Alitalia, and secondly between Delta and Virgin Atlantic, within a single joint-venture. This step will mark the expansion and strengthening of one of the most advanced partnership models in the airline industry. Subject to the signature of the definitive agreements and the approval of the relevant regulatory authorities, this joint-venture will enable the Group to: The creation of this joint-venture will thus consolidate Air France-KLM's leadership position in the North-American and European markets with the largest airline network articulated around twelve powerful hubs on both sides of the Atlantic: Amsterdam, Atlanta, Boston, Cincinnati, Detroit, Los Angeles, London Heathrow, Minneapolis-St Paul, New York-JFK, Paris-CDG, Salt Lake City and Seattle. In parallel, Air France-KLM and China Eastern will step up their commercial cooperation and reinforce their partnership within the framework of the existing joint-venture, to: The strengthening of this cooperation will take place in accordance with the partnership strategy of Delta, which already holds a 3.2% stake in China Eastern Airlines Corporation Limited. This cooperation does not call into question the current joint-ventures between the Air France-KLM Group and China Southern. All of these agreements with Delta, Virgin Atlantic and China Eastern Airlines will enable Air France-KLM to offer its customers an expanded network and to capitalize on the pooling of extensive distribution networks. As an integral part of the Trust Together strategic plan, these partnerships will support the Group's profitable growth and enable Air France-KLM to offer its customers an unparalleled proposition. Reinforcing the partnerships via the acquisition of equity stakes To consolidate the new trans-Atlantic joint-venture, Air France-KLM has announced plans to acquire a 31% stake in Virgin Atlantic for around £220 million. This transaction should take place in 2018, after approval by the relevant regulatory authorities. Air France-KLM will become the second largest shareholder in Virgin Atlantic after Delta which holds 49%, and will have the same level of representation as Delta within the Board of Directors. In addition, Delta and China Eastern, who are now Air France-KLM's very long-term partners, will subscribe equal amounts to two reserved capital increases totaling €751 million at a subscription price of €10 per share, enabling them to acquire 10% each of the Air France-KLM share capital. This price represents a 42% premium relative to the average share price over the last 12 months and a 13% premium relative to the average share price since the announcement of the 2016 annual results on 16th February 2017. Relative to the closing share price of 26th July 2017, the subscription price represents a 17% discount. The realization of these reserved capital increases will be subject to approval by the Air France-KLM shareholders during an Extraordinary Shareholders' Meeting convened for 4th September 2017, and to approval by the relevant regulatory authorities. These reserved capital increases will be the subject of a prospectus to be submitted for authorization by the Autorité des Marchés Financiers ("AMF"). The acquisition of these stakes will be accompanied by the appointment of two Board directors to the Air France-KLM Board of Directors, the first nominated by China Eastern and the second by Delta. The subscription agreements signed separately with Delta and China Eastern, who are not acting in concert, have a 25-year duration and include a commitment by the partners to retain their shares subject to a number of exceptions and not to purchase shares potentially leading to the crossing of 10% threshold in the share capital for five years. The partners have also made a commitment not to sell their stakes to another airline without the agreement of the Air France-KLM Board of Directors These capital increases will enable an improvement in Air France-KLM's financial structure, accelerate the reduction in its net debt and finance the purchase of the stake in Virgin Atlantic. Jean-Marc Janaillac, Chairman and Chief Executive Officer of Air France-KLM, said: "This partnership which is unprecedented in scale gives Air France-KLM a leadership position in the worldwide airline industry. With Delta and Virgin Atlantic we are reinforcing our trans-Atlantic alliance, making us the number one alliance between Europe and the United States in terms of traffic. With China Eastern, we are consolidating our position on a high-growth market. The commitment and efforts of Air France-KLM staff have enabled an improvement in our performance and the securing of these strategic partnerships. These agreements accelerate the value-creation initiatives deployed through the Trust Together project." Air France-KLM is the air transport leader in terms of international traffic on departure from Europe. In 2016, it offered customers a network covering 320 destinations across 114 countries, thanks to its four brands, Air France, KLM Royal Dutch Airlines, Transavia and HOP! Air France. With a fleet of 534 aircraft in operation and 93.4 million passengers carried in 2016, Air France-KLM operates up to 2,200 flights a day, principally on departure from the Group's Paris-Charles de Gaulle and Amsterdam-Schiphol hubs. Its Flying Blue frequent flyer program ranks amongst the leaders in Europe and numbers more than 27 million members. With its partners Delta Air Lines and Alitalia, Air France-KLM operates the largest trans-Atlantic joint-venture with 270 daily flights. Air France-KLM is also a member of the SkyTeam alliance bringing together 20 airlines and offering access to a global network of more than 16,270 daily flights to 1,057 destinations in 179 countries. This document does not and shall not be considered as an offer to the public, an offer to sell or to subscribe or aimed at soliciting a purchase or subscription order in any jurisdiction. No communication and no information in respect of this transaction may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction (other than France) where such steps would be required. The issue, the subscription for or the purchase of Air France-KLM's shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Air France-KLM assumes no responsibility for any violation of any such restrictions by any person.
News Article | June 1, 2017
NEW YORK, June 1, 2017 /PRNewswire/ -- Air France is launching its first pop-up restaurant in New York called Paris for Dessert to celebrate the airline's commitment to exceptional French cuisine. All are invited to enter to win a reservation for two during its five-day run June 20 - 24....
News Article | August 18, 2017
Availability of the prospectus relating to the capital increases reserved to China Eastern Airlines and Delta Air Lines Air France-KLM (the « Company ») announces that the prospectus relating to the Company's capital increases without preferential subscription rights, for a total amount of EUR 750,548,200 (including share issue premium), has been approved by the French Financial Markets Authority (Autorité des marchés financiers), on 17 August 2017, under number 17-441. Such capital increases are reserved to China Eastern Airlines and Delta Air Lines in the context of the strengthening of the group's strategic partnerships announced on 27 July 2017. - the Company's registration document (document de référence), filed with the Autorité des marchés financiers (the « AMF ») on 31 March 2017 under number D.17-0287; - the update to the registration document filed with the AMF on 17 August 2017 under number D.17-0287-A01; - a securities note (note d'opération); and - a summary of the prospectus (included in the securities note). The French language Prospectus is available free of charge from the Company at its registered office as well as from the website of the Company (www.airfranceklm.com/finance) and of the AMF (www.amf-france.org). An English translation is also available on the Company's website. The Company draws the public's attention to the risk factors included in Chapter 3 of the registration document, Chapter 6 of the update to the registration document and Chapter 2 of the securities note. Air France-KLM is the air transport leader in terms of international traffic on departure from Europe. In 2016, it offered customers a network covering 320 destinations across 114 countries, thanks to its four brands, Air France, KLM Royal Dutch Airlines, Transavia and HOP! Air France. With a fleet of 534 aircraft in operation and 93.4 million passengers carried in 2016, Air France-KLM operates up to 2,200 flights a day, principally on departure from the Group's Paris-Charles de Gaulle and Amsterdam-Schiphol hubs. Its Flying Blue frequent flyer program ranks amongst the leaders in Europe and numbers more than 27 million members. With its partners Delta Air Lines and Alitalia, Air France-KLM operates the largest trans-Atlantic joint-venture with 270 daily flights. Air France-KLM is also a member of the SkyTeam alliance bringing together 20 airlines and offering access to a global network of more than 16,270 daily flights to 1,057 destinations in 179 countries. This press release does not and shall not be considered as an offer to the public, an offer to sell or to subscribe or aimed at soliciting a purchase or subscription order in any jurisdiction. No communication and no information in respect of this transaction may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The issue, the subscription for or the purchase of Air France-KLM's shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. Air France-KLM assumes no responsibility for any violation of any such restrictions by any person. This press release does not constitute an offer or incitation to sell or purchase, or a solicitation of any offer to purchase or subscribe for, any securities of Air France-KLM in the United States of America. Securities may not be offered, subscribed or sold in the United States of America absent registration under the U.S Securities Act of 1933, as amended (the "U.S Securities Act"), except pursuant to an exemption from, or in a transaction not subject to, the registration requirement thereof. The securities of Air France-LKM have not been and will not be registered under the U.S Securities Act and Air France-KLM does not intend to make a public offer of its securities in the United States of America.
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
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
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, and the Full Year 2018 fuel bill is expected to increase to 5.0 billion euros. 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.  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  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
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 18.104.22.168 Type I 22.214.171.124 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 126.96.36.199 Type I 188.8.131.52 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 184.108.40.206 Type I 220.127.116.11 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 18.104.22.168 Type I 22.214.171.124 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 126.96.36.199 Type I 188.8.131.52 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 184.108.40.206 Type I 220.127.116.11 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 18.104.22.168 Type I 22.214.171.124 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 126.96.36.199 Type I 188.8.131.52 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 184.108.40.206 Type I 220.127.116.11 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 18.104.22.168 Type I 22.214.171.124 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