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KLM Reviews Catering Division Amidst Financial Pressures

KLM explores strategic options for its catering subsidiary, KLM Catering Services, to address financial challenges stemming from higher costs and lower-than-expected profits.

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Dutch

Netherlands

Labour MarketNetherlandsFinanceBusinessAviationRestructuringProfitability

KlmKlm Catering ServicesAir France-KlmNos NieuwsCentraal Bureau Voor De Statistiek

Marjan RintelBas Brouns

Why is KLM taking these actions?: The decision to examine KLM Catering Services comes in response to lower-than-expected profits at both KLM and its parent company, Air France-KLM. Higher material, personnel, and port fees contributed to the decline in profits.
What is KLM doing with its catering division?: KLM is exploring strategic options for its catering subsidiary, KLM Catering Services, to improve its financial performance. This follows KLM's announcement of cost-cutting measures and organizational simplification aimed at enhancing the company's overall profitability.
How did Air France-KLM perform financially in the third quarter?: The financial pressure on Air France-KLM resulted in a significantly lower profit in the third quarter of 2023 compared to the previous year. The decline in profits is attributed to increased costs and, in the case of Air France-KLM, impacted by fewer travelers to Paris due to the Olympics.
What challenges is KLM facing despite increased passenger numbers?: Despite increased passenger numbers at Dutch airports, KLM's capacity remains constrained, leading to the necessity for cost-cutting measures. These measures are deemed critical, especially given the planned multi-billion investment in newer aircraft.
What are the potential options KLM is considering for its catering subsidiary?: KLM's CEO, Marjan Rintel, stated that they are investigating a wide range of options for KLM Catering Services, including collaboration with other entities. Selling or downsizing the division is not currently under consideration; instead, the focus is on making the subsidiary 'future-proof'.

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