Mumbai: Tata Consultancy Services on Thursday stated that it had inked a multi-year deal for the modernisation of European air carrier group Air France-KLM. The airline industry giant aims to modernise its data storage functions in a bid to save costs and move away from data centres.
TCS will move the company’s data to the cloud as part of a 3-year deal.
TCS share price history
TCS’ share price rose 0.15 per cent on Thursday and 4.64 per cent over the pats 5 days. TCS’ share price was down 2.97 per cent over the past month. However, it was up 4.20 per cent in the past 6 months and 23.01 per cent over the past year, according to exchange data.
TCS’ total market cap stood at Rs 15,00,059 crore as of Thursday. The company’s share opened at Rs 4,169.70 apiece before hitting an inta-day high of Rs 4,205.80 apiece and a low of Rs 4,085.05 apiece.
All about TCS-Air France KLM deal
TCS’ latest deal with Air France-KLM is an extension of its 30-year relationship with the airline group. The company aims to enhance its functionality and operations by moving its data to the cloud. It aims to utilise the new technology to become more agile as it aims to meet customer expectations, said Air France-KLM Group CIO and EVP Pierre-Olivier Bandet. Air France-KLM operates 551 jets connecting 320 destinations spanning 100 countries.
Air France-KLM owns the following airlines:
S. No.
Airline
1
HOP!
2
KLM Cityhopper (since Nov-2002)
3
transavia.com (since Jun-2003)
4
transavia.com France (since May-2007)
5
Martinair (since Dec-2008)
The group also owns minority stakes in:
S. No.
Airline
1
Air Mauritius
2
GOL Linhas Aereas
3
Kenya Airways
4
Royal Air Maroc
TCS Q2 earnings
Tata Consultancy Services’ Q2 earnings missed street estimates as the company’s net profit slipped on a quarterly basis to Rs 11,909 crore while it registered slower revenue growth at 2.6 per cent to Rs 64,250 crore. ICICI Securities maintained an ADD rating on TCS’ shares with a share price target of Rs 4,840 apiece. Overall, the management commentary was positive, according to the brokerage.
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IT giant TCS on Thursday announced that it had inked a 3-year-long deal for the transformation of air carrier Air France-KLM. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
