June 26, 2020 / 6:53 AM / 7 days ago

France's ADP cannot rule out job cuts, to halve investment -CEO

PARIS, June 26 (Reuters) - The head of France’s ADP said on Friday he could not rule out job cuts due to the impact on travel from the COVID-19 crisis and that the airports group would halve its annual investment plans.

“I cannot rule out measures on jobs. I want to limit as much as possible job cuts,” ADP chairman and chief executive Augustin de Romanet told RTL radio.

“We will have discussions from July (with staff representatives), so they are informed of the company’s future,” he said.

Romanet, who has previously said ADP risked losing 2.5 billion euros in sales due to the crisis, said ADP could cut annual investments to 400-500 million euros from 1 billion.

He was speaking as Orly airport near Paris was reopened on Friday after a near three-month closure.

Travellers will be able to fly to 25 destinations and there will be 74 flights on Friday compared to 600 normally, he said.

For July, Romanet predicted 200 flights daily from Orly.

Asked about plans for the privatisation of ADP, he said: “To my knowledge, the economy minister thinks this is no longer on the agenda.”

This month, Transport Minister Elisabeth Borne said the privatisation of ADP was “not a subject that will be on the table in the months ahead. After 2022, we will see.”

Reporting by Dominique Vidalon; editing by Jason Neely

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