Air France-KLM gets luxury makeover in bid to turn around
Investors warm to its plans, sending its stock to a 22% gain in past 12 months
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[NEW YORK] Air France-KLM Group, Europe's largest airline, is getting a makeover ranging from high-end seats to bigger entertainment screens as chief executive officer Alexandre de Juniac attempts a turnaround from near bankruptcy.
Mr de Juniac, who became CEO in July, is coupling luxury perks such as gourmet meals with a push to trim spending that will erase almost 10,000 jobs from 2011 into 2015. With fliers ready to spend more, investing in the customer experience goes hand in hand with savings, he said.
"We can't compete with these Gulf and Asian carriers without providing the best service and product in class," Mr de Juniac, 51, said on Tuesday. .
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