KLM shareholders appoint supervisory board at AGM
The Annual General Meeting of Shareholders of KLM Royal Dutch Airlines today ratified the (re)appointment of members of the KLM Supervisory Board. The shareholders were also presented with a review of KLM’s financial results for fiscal 2015 and a forecast of KLM’s strategy for the coming years. Ensuing decisions, including the remuneration policy to be followed, have also been approved. The Works Council responded positively on notification to this effect.
At the 2015 AGM, it was announced that five vacancies would arise on the Supervisory Board, as Mr H.N.J. Smits, Ms I.P. Asscher-Vonk, Mr P.C. Calavia, Mr H. Guillaume and Mr R.J. Laan were all scheduled to reach the end of their tenure. At today’s AGM, the following members were (re)appointed to the KLM Supervisory Board:
- Mr H.N.J. Smits for a fourth and final term of three years;
- Ms I.P Asscher-Vonk for a fourth and final term of one year;
- Mr P.C. Calavia for a second term of four years;
- Mr P.F. Riolacci for a first term of four years;
- Mr F. Enaud for a first term of four years.
Positive results for 2015
Looking back on the past year, KLM saw the first results of its strategy to cut costs on one hand and pursue investment on the other. The annual results revealed a positive trend. In February 2016, KLM announced an operating result of EUR 384 million and a modest profit of EUR 54 million. Also KLM’s EBITDA has increased from EUR 731 million to EUR 911 million. Net debt was reduced and equity improved. In the first quarter of 2016, capacity was increased by 3.9% and KLM saw passenger traffic increase by 10%.
We are launching service to a record number of new destinations this year and are investing intensively in fleet renewal and our product – i.e. our customers. This has been rewarded with rising customer satisfaction scores. We are on the right track, but still have a lot to do. We will be investing a lot more in the coming years. We can only do so if we cut costs further. KLM’s health cannot be restored in a single year, it will take time. The KLM Supervisory Board supports our ambitions for the coming years.