Profit-hit Air France-KLM to postpone delivery of new jets
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Toulouse, France
AIR France-KLM Group will push back delivery of some aircraft in the next two years to contain costs following its third profit revision this year.
Europe's biggest airline will not take some Boeing Co 777 wide-body jets after saying earnings before interest, tax, depreciation and amortisation (Ebitda) this year will be 200 million euros (S$323 million) less than previously forecast. Air France-KLM said poor sales on long-haul routes and a two-week pilot strike in September are largely to blame for the shortfall, with Ebitda this year now seen at 1.6 billion euros at best.
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