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Air France-KLM is reducing prices on its transatlantic flights in an effort to fill economy cabins as the airline faces a decline in demand for international travel.
Despite the trend in weaker demand, Smith indicated that the airline has not yet adjusted its flight capacity. However, he acknowledged that a potential economic downturn could bring additional challenges for the airline.
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“Travel is one of the first industries to be impacted during economic downturns,” Smith said. “This is uncharted territory for us.”
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The airline’s strategy to lower fares is aimed at maintaining high occupancy levels in its economy class, as it navigates a fluctuating global travel market.
