It's true in the airline business—and in any business. Sometimes the wind is at your back, sometimes it's all headwinds. And it's the latter weather pattern where KLM CEO Marjan Rintel finds herself these days. Like many companies, KLM had been banking on strong macroeconomic factors to power it through this year, but instead the company faces an uncertain global environment, a darkening outlook for global travel, and the added challenge of sometimes tense relations with regulators.
It's something of a feat that the tiny nation of the Netherlands birthed such a huge airline. With a population of only 18 million people, and virtually no need for domestic air travel, the Netherlands wasn't naturally the home of one of the busiest airports in the world. But KLM has played a role in making Schipol a global hub for people traveling elsewhere Europe, and the fourth largest in Europe after London Heathrow, Istanbul and Paris Charles-de-Gaulle. Formed in 1919, KLM had revenues of 12.7 billion euros last year, and flew 34 million passengers. It is now part of Air France-KLM, which last year ranked No. 7 globally among largest airlines. (KLM generates about 40% of total company revenue.)
