Tag Archives: KLM Royal Dutch Airlines

CMA CGM Group and Air France-KLM Group announced a long-term strategic partnership in the air cargo market

CMA CGM Group has made this announcement:

  • Industrial cooperation combines Air France-KLM’s air transport experience and know-how with CMA CGM’s global supply chain expertise and assets;
  • CMA CGM and Air France-KLM to jointly sell their air freight capacity, providing customers with more options for their transportation needs;
  • CMA CGM to become a reference shareholder in Air France-KLM.

The CMA CGM Group and Air France-KLM Group today announced that they have signed a long-term strategic partnership in the air cargo market[1]. This exclusive partnership will see both parties combine their complementary cargo networks, full freighter capacity and dedicated services in order to build an even more competitive offer thanks to the unrivalled know-how and global footprint of Air France-KLM and CMA CGM.

A 10-year exclusive strategic commercial partnership to strengthen their air cargo offering

CMA CGM and Air France-KLM share a strong ambition to invest and grow sustainably in the air freight business.

The agreement will have an initial duration of 10  years. Air France-KLM and CMA CGM will  join and exclusively operate the full-freighter aircraft capacity of the respective airlines consisting initially of a fleet of 10 full-freighter aircraft, and an additional combined 12 aircraft on order:

  • 4 full-freighter aircraft at CMA CGM Air Cargo (with outstanding orders for an additional 8 aircraft, 2 of which may be operated by Air France-KLM in the future),
  • 6 full-freighter aircraft at Air France-KLM Group based at Paris-Charles de Gaulle airport and Amsterdam Airport Schiphol (with outstanding orders for an additional 4 aircraft)[2].

This new commercial partnership also covers Air France-KLM’s belly aircraft capacity, including over 160 long-haul aircraft.

The partnership will leverage both partners’ respective global sales teams, presenting one voice to the customer.

The strategic commercial partnership is expected to generate significant revenue synergies including the joint design of the full freighter networks and enhanced products and services mix opportunities. It will help meet customers’ ever-increasing need for more integrated and resilient supply chains and will leverage Air France-KLM’s vast existing franchise, experience and capabilities in air freight, backed by a global cargo network. CMA CGM will mobilize its large commercial network and global logistics platform and will complete this offer with innovative logistics and multimodal solutions, particularly in sea and land transport.

CMA CGM Group to become a reference shareholder of Air France-KLM Group

As part of this long-term exclusive partnership, CMA CGM will reinforce its commitment in the air freight industry by becoming a new reference shareholder in Air France-KLM. CMA CGM has the firm intention to take up to 9% of Air France-KLM’s ex-post share capital, for a period consistent with the implementation of the strategic commercial partnership.

This investment could be made as part of the contemplated capital increase of Air France-KLM, as announced on February 17th, 2022[3]. Air France-KLM’s main shareholders will support a resolution for the appointment of one board member representing CMA CGM at the next shareholders’ meeting (May 24th, 2022). Such appointment, if approved by the shareholders’ meeting, would be subject to the completion of CMA CGM’s investment.

Air France-KLM and CMA CGM: two global players with European roots and strong sustainability commitments

CMA CGM and Air France-KLM are leaders in the transportation and logistics industry. They share an ambition to increase the sustainability and have both committed to Net Zero Carbon by 2050.

CMA CGM accelerates its strategic transformation into a global logistics leader

  • With this industrial cooperation, the CMA CGM Group is moving forward with its plan to develop and provide end-to-end shipping and logistics solutions in order to support its customers’ supply chains. The Group announced, during the last three years, the acquisitions of CEVA Logistics, Ingram Micro’s Commerce & Lifecycle Services (CLS), Colis Privé and GEFCO. With these operations, CMA CGM have accelerated its strategic development into a global logistics leader.
  • In March 2021, Rodolphe Saadé, Chairman and CEO of the CMA CGM Group, created CMA CGM Air Cargo, a whole new operational and commercial arm specialized in air freight. CMA CGM Air Cargo provides the Group’s customers with an offering that harnesses the tight fit between shipping and logistics. This air cargo division has been expanding rapidly, thanks in particular to the entry into service of several full-freighter aircraft, and orders for new aircraft which will significantly boost the capacity in the months and years to come.
  • The CMA CGM Group, a global leader in sea, land, air and logistics solutions, is present in 160 countries through its network of more than 400 offices and 750 warehouses. With its subsidiary CEVA Logistics, a world leader in logistics, which transports 400,000 tons of air freight and 2.8 million tons of land freight each year, and its air freight division CMA CGM Air Cargo, the CMA CGM Group is continually innovating to offer its customers a complete and increasingly efficient range of new shipping, land, air and logistics solutions.

Air France-KLM is one of the leading airline groups in the field of airfreight

  • It carries an extensive Full Freighter and Wide Body Belly (WBB) aircraft network built around two global hubs at Paris-Charles de Gaulle airport and Amsterdam Airport Schiphol, both fitted with state-of-the-art cargo facilities and serving 295 destinations across 110 countries.
  • Air France-KLM has teams present in 116 stations covering a total network of 390 handling stations spread over all continents, making its commercial network one of the strongest in the airfreight industry. Air France-KLM has a long-standing experience and know-how in the field of specialized cargo (pharmaceuticals, perishables, express, etc.) and has developed one of the most advanced digital service solutions in the air freight industry.
  • Air France-KLM runs a unique and industry-leading digital distribution platform where customers can make bookings and manage their business 24/7.  It also leads the way in the field of sustainability, having introduced the Sustainable Aviation Fuel (SAF) Program in December 2021.

 

[1] This deal remains subject to approval by the relevant regulators and consultation of employee representatives.

[2] Operated by Air France, KLM and Martinair.

[3] The launch of this potential capital increase remains subject to market conditions and necessary legal and regulatory approvals.

CMA CGM Air Cargo aircraft photo gallery:

Air France-KLM and IndiGo codeshare takes off

Air France-KLM released this statement:

 

Further to the lifting of the Air Bubble Agreement in India and to the necessary governmental approval, Air France-KLM and IndiGo, India’s leading carrier, have implemented the extensive codeshare agreement announced in December 2021.

With this partnership, Air France and KLM will ultimately offer their customers access to 30 new Indian destinations and a large number of round-trip combinations for both business and leisure purposes.

Customers will be able to fly to the destination of their choice with one single booking. Flying Blue members will also be able to earn miles on all routes covered by this agreement.

On departure from their respective hubs in Paris and Amsterdam, Air France and KLM already serve four destinations in India: Delhi, Mumbai, Chennai and Bengaluru.

On departure from the multiple points in India, Air France and KLM will open up their global network of over 300 destinations to IndiGo customers, with more than 120 destinations in Europe and about 50 in the Americas.

KLM aircraft photo gallery:

IndiGo aircraft photo gallery:

KLM Group reports a sharp improvement in operating result for first quarter 2022

KLM Royal Dutch Airlines issued this report:

The recovery that set in during the second half of 2021 continued strongly in the first quarter of 2022. During the first three months of 2022, KLM succeeded in generating positive operating results (of +€3 million) for the third consecutive quarter. This represents an improvement of €340 million in comparison with the same period last year. There is still a long way to go to full recovery, but the current financial situation means that KLM has started to repay its loan package in the second quarter.

Turnover in the first quarter of 2022 amounted to €1,903 million; more than double that of 2021, when turnover totalled €930 million. Operating profits of €3 million were up €340 million in comparison with 2021, when there was a loss of €337 million. Bookings continued to pick up thanks to an increasing number of countries relaxing entry restrictions. The negative impact of the sharp increase in oil prices was mitigated by hedging.

KLM received its last contribution of €140 million under the emergency job-retention scheme (NOW) in the first quarter (previous year: €321 million), which contributed to the positive results.

Only €942 million was withdrawn from the loan package of €3.4 billion in 2020. And, as was also the case for 2021 as a whole, nothing was withdrawn in the first quarter of 2022. The repayment in the second quarter is €311 million, which reduces the outstanding debt of this loan package from €942 million to €631 million. If recovery continues, KLM may make further repayments later this year.

Improvements in all business areas

The first quarter of this fiscal year showed a mixed picture. Our customers are keen to travel again and are now able to, and this is reflected in the results. In total, we welcomed 4.8 million passengers on board, compared to 1.4 million in the first quarter of 2021. The upward trend in bookings continued despite the conflict in Ukraine and the closure of Russian airspace, forcing flights to and from South Korea, China and Japan to make a detour.

Once again, Cargo performance was excellent in the first quarter. Transavia also performed well, benefiting from the further relaxation of entry restrictions affecting holiday destinations. Engineering & Maintenance (E&M) showed a strong improvement in first-quarter turnover.

At the same time, key markets in Asia are still closed to international travellers. Additionally, the global airline industry is facing rising costs and scarcity in the labour market, which are putting pressure on operations. This also applies to KLM.

Operation under pressure despite commitment of KLM staff

Operations were already under pressure in the first quarter of 2022 due to numerous operational changes and scarcity in the labour market. This did not lead to any major disruptions. However, with steadily increasing passenger numbers and the situation at Schiphol in terms of capacity shortages in many places, the past few weeks have been very difficult for operations. Many thanks for all the efforts of KLM colleagues and sincere apologies to our customers who were inconvenienced.

These first quarter figures clearly give cause for optimism. Despite geopolitical tensions, high inflation and rising costs, recovery continues unabated. Bookings are approaching their 2019 levels, and our customers are keen and able to travel with us again. We will start repaying the loans in the coming (second) quarter. This involves an initial amount of €311 million and hopefully more later this year. This is a very important step in many ways, serving to highlight the resilience and commitment of all KLM colleagues. In the coming period, we will be focusing on repaying the loans on one hand, and operations and work pressure on the other. Numerous measures are being adopted in this regard, so that summer will be better than the situation in recent weeks.”
KLM President & CEO Pieter Elbers
KLM aircraft photo gallery:

KLM releases a statement concerning flight cancellations this weekend

KLM Royal Dutch Airlines issued this statement:

KLM has cancelled up to 47 flights (roundtrips and one way) for Saturday and Sunday.

Earlier, KLM already announced the cancellation of a total of 28 round trip flights for Friday. These cancellations need to contribute to our effort to offer most of our customers a pleasant start and return of their journey.

Cancelling flights needs to contribute to the request of Schiphol to keep processes manageable at the airport because of their staff shortage. Cancelling flights and adjusting KLM’s flight schedules also helps controlling our own workload.

KLM’s flight schedule will be optimized throughout the weekend. At this point in time, we do not expect additional cancellations are needed. However, further cancellations can not be ruled out.

We urge passengers to get to the airport on time. KLM’s recommends to be at the airport at least 3 hours prior to time of departure of your flight.

KLM aircrafty photo gallery:

 

KLM to operate flights to 167 destinations this summer

KLM Royal Dutch Airlines has made this announcement:

Europe: increased capacity

Demand for air travel is increasing as Covid-19 restrictions are lifted in the Netherlands and other EU countries. KLM has responded by expanding capacity on European routes by 10% compared to last year, almost matching the 2019 pre-pandemic level. This amounts to about 16 million seats in total. The Portuguese cities of Porto and Lisbon, with three and four flights a day respectively, are just some of the destinations seeing an increase in KLM flights.

The success of the new destinations of Belgrade, Dubrovnik and Palma de Mallorca, which were added to the KLM route network last year, means they will once again be included in the summer schedule. KLM also expects business travelers to return, which is why frequencies are added to British, German and Polish routes.

Services to Kyiv, St Petersburg and Moscow continue to be suspended. KLM is keeping a close eye on developments in the region.

Intercontinental: frequently to the Caribbean and more often to the USA

KLM has also increased capacity on its intercontinental route network by 17% compared to last year, in response to a rising trend in bookings. This summer, we will operate daily flights to Aruba, Bonaire and Curaçao, increasing the frequency to Curaçao to twice daily during the summer holiday season. Port of Spain, KLM’s new tropical destination in the winter schedule, is included in the summer schedule too, offering customers thrice weekly flights between Amsterdam and the capital of Trinidad and Tobago.

Since the USA eased travel restrictions in November 2021, demand for flights has grown steadily. KLM capacity to the USA this summer matches that of 2019. The resumption of flights to Salt Lake City and the new addition of Austin to our route network, means we will be operating direct services this summer to 12 destinations in the USA, the highest number ever. Austin, the state capital of Texas, is a flourishing technology hub and home to a large number of technology companies. It is also a thriving student city with a vibrant nightlife, Formula 1 and the major South by Southwest annual festival (SXSW). KLM operates three flights a week to Austin.

We are also seeing more and more countries in Asia opening up to visitors again. Although Covid-19 travel restrictions vary from country to country, summer demand is increasing for such destinations as the Philippines, Thailand, Singapore and Bali. India too has indicated that it will be easing travel restrictions. KLM will respond by increasing frequencies to Delhi and Mumbai. Asia continues to be a strong and important market for cargo, allowing us to continue to operate lower frequency services to all pre-pandemic destinations.

Travel restrictions continue to apply in China, which means we cannot yet resume our usual network services to China. Due to EU sanctions against Russia, KLM is not operating in Russian airspace. Flight times to and from South Korea, Japan and China are consequently on average two hours longer than usual. Flights to Japan and China are currently making a stopover in Seoul.

Capacity on most routes to South America has been restored to more or less pre-pandemic levels. We are currently operating daily services to Sao Paulo, Panama City and Lima, with a minimum of six flights a week to Quito/Guayaquil, Bogota/Cartagena, Rio de Janeiro and Buenos Aires/Santiago de Chile.

Passengers wanting to fly to Africa this summer can now choose between ten destinations. Capacity has been expanded on many routes, compared to last summer, to meet the growing demand. Zanzibar, which was added to our route network last year, is once again included in the summer schedule. KLM is also operating services to Johannesburg, Cape Town, Accra, Lagos, Kigali, Entebbe, Nairobi, Kilimanjaro, and Dar es Salaam.

KLM resumes flights to Bali

KLM Royal Dutch Airlines, has resumed flights to Bali for the first time since April 2020. The first flight from Amsterdam, with a stop in Singapore arrived at Bali’s Ngurah Rai International Airport on 9th March 2022.

KLM will operate two flights a week until mid-May and then plans to increase flights to three times weekly until end of September, subsequently increasing to five times weekly until end of October.

KLM’s first flight on March 9, 2022 was welcomed by KLM’s Country Manager for Indonesia, Mr. Jose Hartojo who said, “Being able to finally welcome our KLM flight again to the beautiful island of Bali and supporting the return of International tourism is a positive sign for travel. With the easing of quarantine measures we are hoping we can introduce more KLM flights soon.”

Before the COVID-19 pandemic until 2 April 2020 KLM flew daily between Amsterdam and Bali via Singapore.

From 28 March 2022, KLM flights between Denpasar and Singapore are designated Vaccinated Travel Lane (VTL) flights offering quarantine free travel to Singapore. Travelers must meet all Vaccinated Travel Lane (VTL) requirements. 

Flight schedule between Denpasar-Bali and Amsterdam

Route

Period

(2022)

Flight number

Day

Departure

Arrival

DPS-AMS

09 March to 23 March

KL836

Wed, Sat

20:55

08:15+1

24 March to 16 May

Mon, Thu

20:35

07:50+1

17 May to 04 Sep

Mon, Tue, Thu

05 Sep to 28 Oct

Mon, Tue, Thu, Fri, Sun

AMS-DPS

09 Mar – 26 Mar

KL813/KL835

Tue, Fri

20:05

19:45

27 Mar – 16 May

KL835

Wed, Sun

21:00

19:25

17 May – 04 Sep

KL835

Mon, Wed, Sun

05 Sep – 28 Oct

KL813/KL835

Mon, Wed, Thu, Sat, Sun

Flight Schedule between DenpasarBali and Singapore

Route

Period

(2022)

Flight number

Day

Departure

Arrival

DPS-SIN
VTL from 28 March 2022 

09 March to 23 March

KL836

Wed, Sat

20:55

23:35

24 March to 16 May

Mon, Thu

20:35

23:15

17 May to 04 Sep

Mon, Tue, Thu

05 Sep to 28 Oct

Mon, Tue, Thu, Fri, Sun

SIN-DPS

09 Mar – 26 Mar

KL813/KL835

Tue, Fri

17:00

19:45

27 Mar – 16 May

KL835

Wed, Sun

16:50

19:25

17 May – 04 Sep

KL835

Mon, Wed, Sun

05 Sep – 28 Oct

KL813/KL835

Mon, Wed, Thu, Sat, Sun

For more information

KLM ends 2021 with a profitable fourth quarter

KLM Royal Dutch Airlines issued this financial statement:

In line with the third quarter, KLM Royal Dutch Airlines succeeded in closing the fourth quarter of 2021 at a profit. Operational profits amounted to €127 million. This shows that recovery is persisting, despite worldwide restrictions that continue to hamper travel. For the year 2021 as a whole, KLM has reported a loss of €227 million, representing a significant improvement in comparison with the figures for 2020 when KLM suffered a loss of €1,154 million.

Fourth-quarter revenues in 2021 amounted to €2,038 million compared to €1,136 million in the same quarter of 2020. Revenues for the year as a whole rose to €6,065 million compared to €5,120 million in 2020. Of the €3.4 billion loan package, nothing was drawn in 2021. Thus, up until now a total of €942 million was drawn.

The year 2021 consisted of two distinct parts. The first half of the year was sharply negative with travel restrictions, a lockdown, the double test requirement et cetera, resulting in €522 million operating loss. In contrast, the second half of the year was one of recovery and showed a positive operating result in the third and fourth quarters of €295 million. Again this year, the KLM result was supported by a substantial NOW contribution, for which KLM is very grateful to the Dutch government.

Positive booking trend

KLM welcomed a total of 5.2 million passengers on board in the fourth quarter of 2021. KLM and Transavia showed a positive booking trend for both the autumn and Christmas holiday periods. Additionally, more business travelers – especially from the small and medium-sized business community – took to the skies again in the fourth quarter. At the same time, uncertainties prevailed about the rapidly changing entry requirements, including the different booster requirements coupled with supplementary testing and quarantine obligations for vaccinated travelers. Meanwhile, many countries are easing restrictions and mandatory testing. This is helping the further recovery. At the same time, there are still countries where strict travel restrictions apply, such as in Asia.

Cargo contributed significantly towards more favorable results over the past year. Cargo revenues rose by 29% in 2021. Engineering & Maintenance also managed to improve operational profits despite falling revenues as a result of a decrease in demand for third-party maintenance.

These figures reflect KLM’s resilience. After weathering close to two years of crisis, the signs of recovery that emerged in the third quarter of 2021 have persisted thanks to the loyalty of our customers and the enormous efforts of our KLM colleagues. This gives energy for the long road to full recovery that still lies ahead. I’m confident we will succeed in doing just that.”
KLM President & CEO Pieter Elbers

KLM stops flying to Ukraine

KLM stops flying to Ukraine. This decision follows the adjusted travel advice to code red and an extensive safety analysis. It is not yet clear when KLM will fly to Kiev again.

KLM has not been flying over the eastern regions of Ukraine and Crimea since 2014. There are now no more KLM flights through Ukrainian airspace until further notice.

KLM always puts the safety of passengers and employees first in the conduct of its operation. Choosing safe and optimal routes is a standard part of our daily practice. KLM uses a security management system to analyze risks in order to determine safe flight routes. This analysis also uses information that is shared within the Dutch expert group, which includes all Dutch airlines, the intelligence services, the Ministry of Defense, the Ministry of the Interior and Kingdom Relations, the Ministry of Foreign Affairs, NCTV and the Ministry of Infrastructure and Water Management. The decision not to fly over or to a specific country is based on the most current analyzes at that time.

Pieter Elbers to step down as the CEO of KLM

The Supervisory Board (SB) of KLM has announced that, after close consultation with CEO Pieter Elbers, it has established that Elbers will not enter into a third term as CEO & President of KLM as of May 1, 2023. This enables the Supervisory Board to start a thorough process for a successor in a timely manner.

In view of the expiration of his second term, which provides the Supervisory Board a natural moment for consideration, we have, after consultation with Pieter, concluded not to enter into a third term. The continuity of KLM’s leadership greatly benefits from being able to establish this at an early stage. It enables us to initiate a thorough succession process and also to offer a new CEO a sufficient induction period. It is also a time when the restructuring plan has largely been implemented, which positions KLM well for recovery and further development. With thirty years at KLM, eleven years on the Board of Management including two terms as CEO, Pieter has an enormous track record and significance for KLM. Partly for this reason, it is important that we are able to achieve a smooth leadership transition.

Cees ‘t Hart, chairman of the KLM Supervisory Board

After two terms, more than eight years, of leadership as CEO of KLM, I am handing over the baton with full confidence. It goes without saying that I am committed to supporting KLM in this transition to new leadership. I am extremely proud of this company and its fantastic employees. Especially in these hectic and difficult times, they remain the strength of KLM. My thirty-year career with the blue KLM family has been an unimaginably beautiful journey that I will always cherish. I very much enjoy the cooperation with my colleagues and look forward to this in the coming period.

KLM President & CEO Pieter Elbers

KLM further expands its approach for Sustainable Aviation Fuel (SAF)

KLM started adding 0.5% Sustainable Aviation Fuel (SAF) for flights departing from Amsterdam on January 10, 2022. In addition, KLM will offer its customers the option of purchasing an extra amount of sustainable fuel. In this manner, KLM aims to stimulate the market for SAF. The face of travel is set to change in the future and SAF will play an essential role in this regard. In addition to fleet renewal and further innovation within the company and sector, KLM is committed to bringing about an energy transition.

Thanks to our customers who participate in the Corporate and Cargo SAF Program, KLM already has a relatively substantial share of the global SAF market today. Yet with a share of 0.18% in 2019, it is still less than 1% of our total fuel consumption. We realize that the 0.5% standard admixture on passenger tickets is a very small step, but an important one in the right direction and we hope other airlines will follow soon. We will have to work with all parties around us and come up with rock-solid solutions and innovations to further open the market for SAF.

Reduce of CO2 emissions by at least 75% 
The CO2 emissions of SAF that KLM currently purchases are at least 75% lower than those of fossil kerosene. That is why, in the short term, SAF is the most important means of drastically reducing CO2 emissions, thus contributing to making aviation more sustainable. The costs for the sustainable fuel variant are at least four times higher and production is lagging behind. By increasing demand, KLM hopes to further develop the market for SAF so that supply is scaled up and sustainable fuel ultimately becomes cheaper.

SAF ambitions 
Effective 1 January 2022, France will introduce a compulsory SAF admixture percentage. This is not yet compulsory in the Netherlands. Within Europe, there is a proposal to achieve a compulsory SAF proportion of 2% by 2025 for all flights within and from Europe. KLM and its partners in the Clean Skies for Tomorrow coalition previously announced that it is their ambition to achieve a worldwide SAF proportion of 10% in 2030. To this end, KLM has now decided to start adding more SAF voluntarily.
In addition, Air France-KLM, KLM and Air France have committed themselves to the CO2 reduction trajectory drawn up for the aviation sector by the Science Based Targets initiative. This will ensure that KLM’s objectives are in line with the targets of the UN Climate Agreement signed in Paris (net zero in 2050). Increased utilization of SAF is a key factor in achieving these targets.

Standard admixture added to ticket price 
The 0.5% SAF proportion will supplement the SAF that is already being blended for customers who have joined KLM’s Corporate and Cargo SAF programs. A surcharge for the additional SAF will be added to the ticket price. This means KLM passengers will automatically contribute to the purchase of sustainable fuel. The surcharge will vary from 1 to 12 euros per ticket, depending on the distance flown and the seat booked (economy or business).
KLM will use this contribution to finance a standard 0.5% SAF admixture on all flights from Amsterdam.

CO2ZERO service expanded with SAF option 
For individual passengers who wish to further reduce the footprint of their flight, we have expanded our CO2ZERO service with an option to purchase an additional quantity of SAF. This option will be available in addition to our existing compensation alternative to support a reforestation project with Gold Standard certification. Reforestation is a way in which CO2 emissions can be compensated outside the aviation industry. With the additional purchase of SAF, a passenger contributes to less use of fossil kerosene, and thus to a direct reduction of CO2 emissions as a result of flying. Again, KLM will use the entire amount raised to purchase SAF to boost global SAF production.

Purchase of SAF 
In 2011, KLM conducted the world’s first commercial flight on blended biofuel. In February 2021 we operated a commercial flight with an admixture of sustainable synthetic fuel. For SAF, KLM focuses on all technologies side by side: based on used cooking oil, forestry residues and sustainable synthetic fuel. KLM is currently purchasing relatively large volumes of SAF and has signed various purchase agreements with suppliers. This will guarantee the standard 0.5% admixture for flights departing from Amsterdam and will enable KLM to meet additional demand generated by passengers via the CO2ZERO program, as well as demand generated by partners in KLM’s Corporate SAF Program and the Air France-KLM-Martinair Cargo SAF Program, thereby contributing to KLM’s efforts to achieve its CO2 reduction targets.

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