Air France drops plans for forming subsidiary for maintenance arm
Reuters
Published Dec 12, 2016 08:41
Air France drops plans for forming subsidiary for maintenance arm
PARIS (Reuters) - Air France (PA:AIRF) has abandoned plans to study forming a subsidiary unit for its maintenance arm, its chief executive told trade unions in a letter.
Maintenance is one of the most profitable business units for the Franco-Dutch airline group, whose French passenger operations have been engulfed by strikes and restructuring.
Air France-KLM's maintenance division, second in the market behind Lufthansa (DE:LHAG), accounts for only 15 percent of group sales but 26 percent of its operating profit.
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Written By: Reuters
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