Air France-KLM revises cost-savings target upwards

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Air France-KLM has revised upwards, by around 6%, its cost-savings target under its 'Challenge 12' efficiency programme.

The decision follows the carrier group's efforts to keep its savings ahead of target.

Air France-KLM achieved cuts of €718 million ($932 million) for the full-year 2009-10, against the intended €700 million, and it generated another €131 million in savings for the first quarter ending 30 June.

As a result, it says, the objective of the savings plan for 2010-11 has been revised upwards to €540 million from the previous level of €510 million.