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Fri, Sep 12, 2014

Air France-KLM Investing $1.29 Billion In Transavia

Hopes To Compete With Ryanair, Easyjet

Air France-KLM has announced its "Perform 2020" turnaround plan for low-cost carrier Transavia that comes with an investment equal to nearly $1.3 billion.

The airline is shooting for a 10 percent annual increase in earnings by 2017, according to a report in Buying Business Travel. It also plans to reduce operating costs by one percent through growth in capacity.

The plan will grow the Transavia fleet to 100 airplanes and add jobs for 250 pilots by 2019, according to the airline.

Transavia currently flies primarily to leisure destinations in Europe. "The ambitious initiatives we are launching today will go hand in hand with redoubled efforts to reduce costs and restructure activities which remain loss-making," said Air France-KLM Chief Executive Alexandre de Juniac.

The airline hopes that the plan will make it more competitive with low-cost carriers like Easyjet and Ryanair.

FMI: http://www.transavia.com/

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