Air France-KLM appoints Riolacci as new CFO

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Air France-KLM has named Pierre-François Riolacci to succeed Philippe Calavia as the group’s chief financial officer.

Riolacci joins from energy company Veolia Environnement where he has been senior executive vice president and chief financial officer since 2010.

He is expected to replace Calavia before the end of this year, says Air France-KLM.

"I would like to recognise Philippe Calavia’s outstanding contribution to the financial modernisation of Air France and the building of one of the major player in the air transport industry, following the merger with KLM. We thank him for his personal commitment and efforts during the recent critical period to consolidate the Group's financial position and reduce its debt," says Air France-KLM chief executive Alexandre de Juniac.