PARIS—Air France-KLM detailed plans to simplify its fleet as part of a new long-term strategy to better compete in a tough European airline industry operating environment. The airline expects to decide between Airbus A350s and Boeing 787s to replace its A380s in the coming weeks. “It’s obvious that Air France-KLM needs to reinvent in order to be successful,” Air France-KLM CEO Ben Smith told investors Nov. 5 as he unveiled a route map to improving financial ...

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