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Markets News

Air France-KLM ready for deeper contraction if recovery lags

PARIS, July 31 (Reuters) - Air France-KLM is ready to cut capacity by more than the previously announced 20% if the coronavirus recovery falls short of expectations, Chief Executive Ben Smith said on Friday.

“The Air France-KLM group will reduce its global capacity by a minimum of 20% in 2021 compared to 2019 levels,” Smith said. “We’ll continue to evaluate if further adjustments are required.” (Reporting by Laurence Frost; Editing by Edmund Blair)

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