Air France 2009 Annual Report Download - page 23

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641 aircraft
164 long-haul aircraft
29 cargo aircraft
236 medium-haul aircraft
212 regional aircraft
Flexible management
In a cyclical sector, flexibility enabling capacity
to be fine-tuned to demand is an important
optimization tool. A third of the fleet is, thus,
under operating lease, allowing the restitution
or extended operation of aircraft depending on
requirements. The Group also includes clauses
in its contracts enabling, subject to contractual
notice periods, the adjustment of aircraft
delivery schedules.
In order to withstand the economic crisis and
in response to the adaptation of capacity to
reduced demand, the Group has implemented,
in addition to this flexibility, two major measures
impacting the fleet plan: the rescheduling over
a four-year period of the delivery of 17 aircraft
under firm order and the deferral in the exercise
of five options. However, the Group continues
to plan for the future with 102 orders and
58 options for new aircraft.
Adaptation of the investment
plan
In revising down its fleet plan, Air France-
KLM is scaling back its investment program
and preserving its cash. As of the 2008-09
financial year, the Group reduced its
investment in the fleet, net of disposals,
by some €500 million. In three years,
net investment in the fleet will fall from
€4.9 billion to €2 billion.
Financing of the fleet (in %)
Full ownership
Finance lease Operating lease
17
51
32
21
Air-France KLM - Annual report 2008-09