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Management Report 2012

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Management Report 2012 Management Report 2012 Société anonyme with share capital of 300,219,278 euros Registered offIce: 2, rue Robert Esnault-Pelterie, 75007 Paris Mailing address: 10-14, rue de Rome, 93290 Tremblay-en-France Paris Trade and Company Register: 552,043,002 1 Contents Page 1 CORPORATE GOVERNANCE .................................................................................................................. 3 1.1 The Board of Directors ............................................................................................................................ 3 1.2 The CEO Committee ............................................................................................................................ 36 1.3 The Group Executive Committee .......................................................................................................... 36 1.4 Share capital and shareholder structure ............................................................................................... 39 2 ACTIVITY ................................................................................................................................................. 44 2.1 Highlights of the 2012 financial year ..................................................................................................... 44 2.2 Market and environment ....................................................................................................................... 46 2.3 Strategy ................................................................................................................................................. 57 2.4 Passenger business ............................................................................................................................. 62 2.5 Cargo business ..................................................................................................................................... 66 2.6 Maintenance business .......................................................................................................................... 69 2.7 Other businesses .................................................................................................................................. 70 2.8 Fleet ...................................................................................................................................................... 72 2.9 Highlights of the beginning of the 2013 financial year .......................................................................... 79 3 RISKS AND RISK MANAGEMENT .......................................................................................................... 80 3.1 Risk management process ................................................................................................................... 80 3.2 Risk factors and their management ...................................................................................................... 80 3.3 Market risks and their management ..................................................................................................... 92 4 SOCIAL, CORPORATE CITIZENSHIP AND ENVIRONMENTAL INFORMATION .................................. 98 4.1 Social information ................................................................................................................................. 98 4.2 Note on the methodology for the reporting of the social performance indicators ................................ 111 4.3 Social indicators for the Group ............................................................................................................ 116 4.4 Corporate citizenship information ....................................................................................................... 121 4.5 Environmental information .................................................................................................................. 129 4.6 Note on the methodology for the reporting of the environmental indicators ....................................... 138 4.7 Environmental indicators for the Group .............................................................................................. 142 5 COMMENTS ON THE FINANCIAL STATEMENTS ............................................................................... 146 5.1 Consolidated results for the financial year to December 31, 2012 ..................................................... 146 5.2 Key financial indicators ....................................................................................................................... 152 2 1 Corporate governance 1.1 The Board of Directors Pursuant to the corporate governance principles stipulated by the AFEP-MEDEF Corporate Governance Code, the duration of Board directors’ terms of office is four years and the renewal of Board director mandates is staggered to facilitate the smooth renewal of the Board of Directors. To facilitate their integration and the exercise of their mandates, the newly-appointed Board directors are encouraged to meet with the company’s senior executives, and are offered site visits and training organized and paid for by the company. On their appointment, they are also sent a dossier including, amongst other documents, the company’s bylaws, the internal regulations of the Board, the Registration Document and the latest press releases issued by the company. 1.1.1 Composition of the Board of Directors At December 31, 2012, the Board of Directors comprised 15 members: • 12 Board directors appointed by the Shareholders’ Meeting (including two representing the employee shareholders); • Three representatives of the French State appointed by ministerial order. Despite the particularity of its composition, the Board of Directors is a collegial body which collectively represents all the shareholders and acts in the interests of the company. At February 21, 2013, given the resignation of Ms Saragosse and her replacement by Mr Comolli, there were two women members of the Board of Directors. In view of the forthcoming expiry of Board director mandates, the Appointments Committee will propose candidates aimed at reinforcing the presence of women within the Board in order to comply, within the recommended time horizons, with the AFEP-MEDEF recommendation of April 19, 2010 and the provisions of the law of January 27, 2011 relating to the balanced representation of men and women within Boards of Directors. 3 Board directors appointed by the Shareholders’ Meeting Jean-Cyril Spinetta Chairman of the Board of Directors and Chief Executive Officer Born October 4, 1943 First appointed as a Board director: September 23, 1997. Expiration date of current term of office: 2014 Shareholders’ Meeting Number of shares held in the company’s stock: 65,349 Expertise and professional experience Jean-Cyril Spinetta holds an advanced degree in public law and is a graduate of the Institut des Sciences Politiques de Paris and the École Nationale d’Administration. Between 1972 and 1990, Mr Spinetta served as a senior civil servant in a number of French government Ministries (Education, Employment, Transport). He was Chairman of Air Inter between 1990 and 1993. In 1997, he became Chairman and Chief Executive Officer of Air France, followed by Air France-KLM at the time of the merger. In 2009, he resigned from his functions as Chairman and Chief Executive Officer while remaining Chairman of the two Boards of Directors. Since the reunification of the functions of Chairman and Chief Executive Officer in October 2011, he has once more been Chairman of the Board of Directors and Chief Executive Officer of Air France-KLM. Other directorships and offices Directorships and offices held in the last five years French companies and having expired • Chairman of the Supervisory Board of Areva* French companies and public institutions • Director of Saint-Gobain* • Chairman of the Board of Directors then Chairman • Director of Alcatel-Lucent* and Chief Executive Officer of Air France until Non-French company November 16, 2011 • Director of Alitalia CAI (Italy) • Chairman of the Air France-KLM* Board of Others Directors until October 17, 2011 • Member of the IATA (International Air Transport • Director (representing the French State) of La Association) Board of Governors (Canada) Poste until April 2009 • Member of the Board of Paris Europlace • Director (representing the French State) of GDF- Suez* until April 2009 • Chairman and Chief Executive Officer of Air France-KLM* until December 2008 • Chairman and Chief Executive Officer of Air France until December 2008 Professional address: Air France-KLM, 2 rue Robert Esnault-Pelterie, 75007 Paris 4 Leo M. van Wijk Vice-Chairman of the Board of Directors and Deputy Chief Executive Officer Born October 18, 1946 First appointed as a Board director: June 24, 2004. Expiration date of current term of office: 2016 Shareholders’ Meeting Number of shares held in the company’s stock: 3,565. Expertise and professional experience Leo van Wijk, a Dutch national, holds a Masters degree in Economic Sciences. Mr van Wijk began his career at KLM Dutch Airlines in 1971. Having occupied a number of positions in the Cargo Division, he was appointed Vice President KLM Marketing in 1984 before becoming Senior Vice President Corporate Development in 1989. He joined the KLM Board of Managing Directors in 1991 and was President and Chief Executive Officer of the company between 1997 and 2007. On October 17, 2011, he was appointed Deputy Chief Executive Officer of Air France-KLM. Other directorships and offices
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