Remuneration of senior company officers

AFEP-MEDEF recommendations

At its meeting on November 19, 2008, the Board of Directors of Air France-KLM examined the AFEP-MEDEF recommendations dated October 6, 2008 concerning the compensation of executive directors of listed companies. The Board considers that these recommendations are in line with the corporate governance principles of the company. The Board confirms that the AFEP-MEDEF corporate governance code thus amended will continue to be Air France-KLM's reference for the preparation of the report provided for in Article L.225-37 of the French Commercial Code, in accordance with the Act of July 3, 2008 that implement the European Union directive 2006/46/EC of June 14, 2006.

Remuneration of the Executive Directors