The group Air France-Klm ended 2013 in deep red. The net loss reached 1,827 billion euros, up on the 1,22 billion of the previous year. The write-downs of deferred tax assets weighed on the results.
The turnover of the Franco-Dutch group was 25,52 billion euros, an increase of 0,4%, while the operating result returned positive by 130 million (compared to -336 million in 2012). Net debt is improving, down to 5,348 billion from 5,966 billion euros in 2012.
For 2014, Air France-Klm speaks of a still difficult context, but stresses that the goal is to reach an Ebitda of 2,5 billion euros, against 1,855 in 2013, and to continue reducing the debt, in line with a target of 4,5 billion of net debt at the end of 2015.
Air France-KLM has launched a restructuring plan, the so-called Transform 2015 program, which will lead to a 20% improvement in profitability, including through a drastic reduction in personnel.
