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KLM Group CEO: ‘Strengthening our financial position remains our first priority’

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KLM Group CEO: ‘Strengthening our financial position remains our first priority’
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Marjan Rintel, CEO of KLM Group | https://www.airfranceklm.com/en/group/governance

Marjan Rintel, CEO of KLM Group, said that the airline's financial performance in 2024 was disappointing. She emphasized that strengthening the company's financial position to enable future investments is the airline's primary priority. Rintel made these remarks in a press release dated March 6.

"Our financial performance for 2024 is disappointing, especially considering that the operating result largely consists of cost savings," said Rintel. "We need to strengthen our financial position, in order to be able to make vital investments in the coming years. Therefore, this year, strengthening our financial position remains our first priority."

According to the same press release, KLM Group's operating result decreased by €234 million to €416 million in 2024, despite a 5.4% increase in revenue. The decline in profitability was attributed to rising costs for equipment, personnel, and airport fees. To address these challenges, KLM is implementing cost-saving measures announced in October, with a target of saving €450 million by 2025. The airline aims to achieve an 8% profit margin moving forward.

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FlyingInsight.com reported that KLM has announced several cost-saving initiatives for 2024 aimed at reducing expenses by €450 million. These include optimizing fleet operations by adding four extra seats to its latest Embraer aircraft and adjusting the cabin layout of its Boeing 777-200 fleet.

Reuters noted that KLM welcomed 33 million passengers in 2024, alongside Transavia’s 9.5 million passengers. The airline also introduced seven new destinations and expanded its fleet with nine quieter and more fuel-efficient aircraft.

To further improve profitability, KLM announced a reduction of 250 office jobs in 2024 as part of broader efforts to increase company-wide productivity by at least 5%.

Founded in 1919, KLM Royal Dutch Airlines is the flagship carrier of the Netherlands and is recognized as the oldest airline still operating under its original name. It is a subsidiary of Air France-KLM and operates one of the world’s most extensive international route networks.

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