The Works KLM fears for the financial autonomy of the airline. Reported that the company or Friday. Following are the plans for KLM annual € 1 billion to cede cash to parent company Air France-KLM, which this newspaper reported earlier.
The Works Council is deeply concerned that the money is not used for loss of Air France, even though this is strongly denied by parent company Air France-KLM
Investing
” There is hardly any support for this plan, therefore, I conclude that skimming the cash does not contribute to the improvement of the financial position of Air France-KLM, “says chairman or Hanjo Redel in a note
According to the leadership of Air France-KLM is to centralize the kasmanagement normal multinationals. However, the Franco-Dutch airline has only two operating companies, set Redel. “The plans undermine internal efforts remain KLM to leave a healthy and powerful airline.” KLM needs its own funds to continue to invest, for example in a new fleet. The KLM management and the supervisory board are also against the
Reorganization
“If KLM his bank account managed by a third party gives, I wonder to what extent the company is still independent,” says Redel. The Works also has no direct influence on the plans, because his conversation partner is the Dutch Directorate, which is also against the plans. According Redel go plans for skimming the cash counter agreements made earlier about the integration between Air France and KLM.
About to personnel of centralizing kasmanagement and treasury, the Dutch or give advice, but this is not a concrete proposal on the table. In two weeks, CEO Alexandre de Juniac Air France-KLM, along with the Dutch or. Then there is the French government already decided on skimming the greenhouse.
At present Redel with KLM -direction in talks about a new reorganization, which should ensure that profits will go up in the coming years. KLM sees the merits lately are under severe pressure due to high competition.
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