Perform 2020
Lengthy and intense negotiations took place with a VNV delegation in recent months. VNV consistently expressed its willingness to invest in the company. KLM and VNV have now reached an agreement for the forthcoming three-year period from1 January 2015 up to and including 31 December 2017, in which the pilots’ contribution towards the employment conditions is proportionately balanced with the consideration required of KLM by VNV and will also contribute significantly towards achieving the Air France KLM Perform 2020 objectives.
The outcome
The outcome achieved through negotiation now means that pilots will give concrete shape to the annual productivity gain of 4%. The agreement also includes a concrete increase in the retirement age. Moreover, this agreement will also generate an improvement in KLM’s cash position. In return for this investment, pilots now enjoy access to shares. This will be defined further. The agreement in principle has yet to be tested against legal, fiscal and governance aspects.
Amstelveen, 09 July 2015
This post was published on 9 July 2015 13:53
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