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Air France-KLM to cut up to 3,000 jobs

  Air France-KLM, Europe’s biggest airline, aims to cut between 2,500 and 3,000 jobs in the next two financial years, a spokeswoman for the carrier said on Wednesday.

The Franco-Dutch company, which posted a 9.4% slump in passenger traffic in March, will not renew short-term contracts or replace retiring employees, avoiding compulsory layoffs, she said, confirming an article in newspaper La Tribune.

Air France-KLM cut 2,400 jobs in the fiscal year ended March 31, 2009 and forecast an operating loss of €200 million for the period. It expects a further loss for 2009/10.

Shares in Air-France KLM have lost 1.33% so far this year, after dropping some 61% in 2008, giving the company a market value of about €2.7 billion ($3.6 billion). The stock was 2.7% lower at €8.80 by 8:16 a.m. on Wednesday. (Reuters)