Word: spinetta
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JEAN-CYRIL SPINETTA, CEO of Air France-KLM, on corporate culture at the merged airline, which hailed a 41% jump in second-quarter net profit
...France's Charles de Gaulle airport was not only hailed as a stylish triumph of innovative yet practical design; the €750 million complex was supposed to transform Paris into "the most powerful hub in Europe, ahead of Frankfurt and London," boasted Air France CEO Jean-Cyril Spinetta. At full capacity, the terminal's twinned, 650-m-long main structures could handle 10 million passengers a year. Computerized baggage systems would transport luggage with minimal error, while travelers relaxed in the bright, spacious interiors of the tubular buildings. But today 2E is welcoming only the investigators who are still trying...
...merge with Air France. Both sides talked up the €784 million deal as an overdue consolidation of European airlines and promised it would create "substantial value for shareholders." Just how it might do so left investors and civil-aviation experts scratching their heads. Air France CEO Jean-Cyril Spinetta and KLM chief Leo van Wijk said the two firms won't cut staff and will operate as before from their hubs, Charles de Gaulle in Paris and Amsterdam's Schiphol. And to retain KLM's international traffic rights, they've had to create a holding company that will...