At its recent Investor Day, Air France and partner KLM Royal Dutch Airlines have outlined their proposed “Perform 2020” strategic growth plan which was originally outlined in July 2014. This is the successor to their “Transform 2015” cost-cutting and restructuring plan which will come to a close this year.

The Group will scale down its full freighter fleet from 14 aircraft to just five at the end of 2016 (two B777-Fs in Paris CDG under Air France Cargo, and three B747-400(F)s in Amsterdam under KLM Cargo) will mean a 60 per cent cut in ATKs carried by full freighters in 2017 compared with 2012. Air France-KLM Cargo aims to breakeven in 2017. Martinair’s fleet of five MD-11(F)s will be phased out.

The Perform 2020 plan also involves more restructuring of the short and medium haul passenger business, including an aggressive expansion of LCC Transavia from 44 aircraft to 100 in 2017 and growth in the more profitable maintenance business.

In terms of its financial aims, the programme is looking to increase the Group’s annual core earnings (EBITDAR) by 8-10 per cent through 2017.