KLM to announce more reorganization measures

KLM will announce further restructuring measures in September. According to CEO Pieter Elbers, these measures are a "logical approach" to accelerate the existing cost cutting program and enable the airline to reach the 700 million euro target in 2018, instead of in 2020. Elbers said this to the Wall Street Journal on Friday, the Volkskrant reports. On Wednesday the airline managed to reach an agreement with the pilots union on a new collective bargaining agreement. Amongst other things, the pilots will forgo wage increases and work extra hours, in exchange for shares and a representative in the supervisory board in Paris.