Air France-KLM names de Juniac as next chairman

The Franco-Dutch airline Air France-KLM said Monday that it has named Alexandre de Juniac as its next chairman and chief executive officer, effective July 1. De Juniac is to replace the current Air France-KLM CEO Jean-Cyril Spinetta as part of a boardroom shuffle that is also to see Frederic Gagey take over from de Juniac as CEO of the Air France unit the same day. Spinetta is to turn 70 in October and has decided to step down nine months before his term was to end. De Juniac took over as head of Air France in late 2011, and launched a plan to turn the airline around in light of strong competition from low-cost carriers and emerging airlines in Asia and the Gulf. The plan, dubbed Transform 2015, aims to cut Air France's debt by two billion euros ($2.6 billion) by the end of next year.