Air France-KLM speeds up cost cuts, curbs investments

Paris: Air France-KLM is accelerating cost cuts and deferring debt-reduction goals as pressure on revenue and a weak euro threaten to dampen the benefits of lower oil prices this year. Europe’s second-largest traditional network carrier, which issued three profit warnings last year, also announced plans to cut investments and delay some aircraft deliveries as it posted lower 2014 revenue and core profits on Thursday. Net losses narrowed sharply to €198 million (Dh829 million) due to changes in Dutch pension rules and the sale of shares in the Amadeus booking system.