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    Antonio Duarte • Goodbody

    Antonio Duarte's questions to Air France KLM SA (AFLYY) leadership

    Antonio Duarte's questions to Air France KLM SA (AFLYY) leadership • Q1 2025

    Question

    Antonio Duarte of Goodbody inquired about the outlook for staff costs and numbers, considering the dual pressures of fleet expansion and the premiumization strategy. He asked if further efficiencies could be realized and how they would balance against investments in premium service.

    Answer

    CEO Benjamin Smith explained that the company is focused on improving productivity to offset cost pressures. He noted that while the KLM CLA is a crucial component, other initiatives, such as optimizing ground operations, are also underway to enhance efficiency. He expects productivity to continue improving in the coming quarters, driven by the 'back on track' program, even as the company invests in its premium offerings.

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    Antonio Duarte's questions to Air France KLM SA (AFLYY) leadership • Q1 2025

    Question

    Antonio Duarte of Goodbody Stockbrokers UC inquired about the future of staff costs and numbers, considering the conflicting pressures of the premiumization strategy, which increases service costs, and fleet expansion, which should drive efficiencies.

    Answer

    Executive Benjamin Smith explained that while premiumization is a factor, the company still expects overall productivity to improve. He noted that the KLM CLA is a crucial component for progress, but other operational efficiencies are being implemented concurrently. He stated that the 'Back on Track' program is key to driving productivity gains in the upcoming quarters.

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    Antonio Duarte's questions to Deutsche Lufthansa AG (DLAKY) leadership

    Antonio Duarte's questions to Deutsche Lufthansa AG (DLAKY) leadership • Q1 2025

    Question

    Antonio Duarte asked how Lufthansa could mitigate rising material costs in the event of a demand slowdown and inquired about the outlook for cargo yields, given recent front-loading to the U.S. and declining global data points.

    Answer

    CFO Till Streichert explained that variable costs would decline with demand, while the group's turnaround plan addresses structural cost increases. On cargo, he noted that while visibility is low, the freighter fleet offers flexibility to adapt to shifting demand flows, and that airfreight generally benefits from global volatility.

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    Antonio Duarte's questions to Deutsche Lufthansa AG (DLAKY) leadership • Q3 2024

    Question

    Antonio Duarte of Goodbody asked about the potential integration of ITA Airways, inquiring about the expected initial cost impact and the airline's potential contribution to group profits.

    Answer

    CEO Carsten Spohr estimated that integration costs would be a 'double-digit number of investments' for IT and resources, which he deemed negligible relative to the business's size. While unable to view ITA's financials directly, he noted that public information suggests ITA is performing better than anticipated in Lufthansa's original business plan, indicating a positive outlook for its future contribution.

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