Air France A320. By Rob Finlayson Air France (AF) KLM Group on Thursday revealed its three-year “transformation plan” to bring the company back to profitability by cutting costs immediately by €1 billion ($1.27 billion) and rapidly reducing debt by €2 billion to €4.5 billion by the end of 2014. The group said it will increase capacity by a little over 5% on a cumulative basis. At AF, the plan includes freezing pay raises in 2012 and 2013. At KLM, plans ...

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