Wednesday, October 29, 2014 - 12:49
KLM: layoff rumours false, despite profit decline
The operational profit of KLM fell by a quarter to 265 million euro in the third quarter. Even though the figures are at the bottom of the market, rumors of massive restructuring are completely unfounded, says Jos Versteeg of Theodoor Glissen. The rumors about a technical bankruptcy are also absolute nonsense, says Versteeg. "The company is absolutely not in danger." Operational cash came in for the first nine months of the year, Versteeg explains, more than 1 billion. "The investment of 1.1 billion gets deducted from that and then you have a cash deficit of 75 million. If you have a net cash position of 3 billion, that is really no problem. So the company is absolutely not in danger or anything."