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Air France-KLM: agreement between KLM and pilots' union.

(CercleFinance.com) - Air France-KLM has announced that its subsidiary KLM and VNV, the Dutch pilots trade union have reached an agreement regarding changes in the pilots' pension fund from January 2018, subject to agreement with VNV members.

This agreement will eliminate the risk of clearing the fund's losses and will thus avoid significant changes in equity capital. KLM will pay a 194 million euro lump sum to the pension fund in a few installments.

Furthermore, an agreement was concluded in August between KLM and its cabin personnel to transform their pension fund into a scheme of defined collective contributions. Thanks to these agreements, KLM has finalised the "de-risking" of these pension funds.

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