Dutch airline KLM will cut costs and postpone investments because of the rising cost of equipment, staff and airport fees, it said today.
"With the total package of measures, KLM aims to improve its operating result by €450m in the short term," the Dutch arm of airline group Air France-KLM said.
Measures will include rejigging flights and scrapping an undisclosed number of office jobs, and seeking to increase productivity through automation and mechanisation.
"Just as many other airlines, KLM is suffering from high costs and shortages of staff and equipment," chief executive Marjan Rintel said in a statement.
The new flight schedule should provide a "better balance" between European and intercontinental flights, the airline said, without giving further detail.
KLM said it would "reconsider and postpone" all investments, such as those in a new headquarters and maintenance buildings, while striving to maintain fleet investments as much as possible.
It will also look to outsource or divest activities that do not contribute to flight operations, while the introduction of new products on board and a better layout of planes should improve revenues by at least €100m a year.
