The reports come just four months after Mr. Gourgeon, 65, was re-appointed to a new four-year mandate in July as head of the group holding company, though he had been expected to cede his role at the Air France unit in January.
Mr. Gourgeon was informed Friday of the decision to replace him, Les Echos, a French business newspaper, reported late Sunday. The newspaper cited disappointment with the company’s financial performance.
According to Les Echos, Air France-KLM’s current chairman, Jean-Cyril Spinetta, was expected to assume chief executive duties for the group until a permanent replacement is named. Mr. Spinetta ran Air France for a decade until 2009, with Mr. Gourgeon as his deputy.
A company spokesman confirmed Monday that the board was scheduled to meet at 4 p.m. in Paris, but declined to comment on the subject of the meeting. Shares of Air France-KLM were up nearly 4.5 percent on the reports in early afternoon trading.
Alexandre de Juniac, a former chief of staff to France’s former finance minister, Christine Lagarde, has been rumored since June to be the front-runner to replace Mr. Gourgeon eventually at Air France. Mr. Juniac, 48, is currently an adviser to François Baroin, who replaced Ms. Lagarde as finance minister after she stepped down in June to become managing director of the International Monetary Fund.
The French government owns nearly 16 percent of Air France-KLM, a stake worth about €272 million at current prices, and controls 3 of the 15 seats on the company’s board.
Air France-KLM, while one of Europe’s largest airlines, is one of the region’s least profitable. For the three months through June it swung to a net loss of €197 million, or about $270 million, from a €736 million profit a year earlier. The group has forecast a modest operating profit for 2011, though that is much weaker than the roughly €1 billion that analysts predict for Lufthansa this year and around €600 million for International Airlines Group, the parent company of British Airways and Iberia of Spain.
Air France-KLM has been preparing a major restructuring program aimed at slashing operating costs by up to €800 million. Mr. Gourgeon presented the outlines of a plan to unions in September, which includes a hiring freeze as a first step, but which unions fear may ultimately result of the elimination of as many as 10,000 jobs. A final decision on the plan was expected as early as this month.
Despite its financial straits, Air France-KLM proceded with an order last month for an order of up to 110 Airbus and Boeing long-range jets worth $12 billion as part of a plan to renew its fleet.
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