AF has been consistently turning out profits for the past 6 years or so - in fact they were turned around in the mid-90's by then CEO Christian Blanc, who managed to save the Company by introducing a whole host of cust-cotting measures the equivalent of which is yet to be seen at BA or KLM for instance. Basically, personnel agreed to work more for the same pay (i.e. to be paid less by the working hour), or to work the same but be paid less (like the hostesses and stewards, who accepted a near-20% pay cut).
The Company has been soundly managed ever since, but as you noted, their route structure is much more evenly spread than, say, BA's. AF is nowhere near as dependant on North Atlantic routes or Asian routes (see SARS) than most other European carriers. The French state still has a (slight) majority of capital in its hands, but that is due to cease later this year when the Company will go public. The shares have been doing all right since they were first introduced on the stockmarket a few years ago - too bad their recruitment procedures are so rigid...
Cheers
Last edited by FougaMagister; 14th May 2003 at 23:55.