Air France under threat amid strikes: Economy minister

Virginia Carson
May 7, 2018

The government said the French state, the largest shareholder with a 14 percent stake, will not bail out the airline. Zacks Investment Research upgraded shares of Air France-KLM from a hold rating to a buy rating and set a $19.00 price objective on the stock in a research report on Thursday, January 4th.

Air France said on Friday that 13 days of strikes by its staff had already cost it about €300 million ($358 million).

Air France guaranteed 85% of its services would operate on Monday, the 14th day of an ongoing pay dispute, amid warnings the strike has put the company's future in doubt.

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Air France-KLM CEO Jean Marc Janaillac declared his resignation Friday evening after employees denied the organization's latest wage proposal. While nearly all long-haul flights are predicted to operate, one in five medium-haul services from Charles de Gaulle airport in Paris won't, with short-haul trips from Orly also affected. The company had revenue of $7.34 billion during the quarter, compared to analysts' expectations of $8 billion. equities analysts anticipate that Air France-KLM will post 2.71 earnings per share for the current year.

Air France-KLM is one of Europe's biggest airlines, but has seen a series of strikes in recent weeks.

Some worker representatives hit back at Le Maire on Sunday, after he called their demands unjustified. "I think we can find a way out".

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Be that as it may, numerous investigators say Air France has lingered a long ways behind with regards to rebuilding and has neglected to address its proceeded with misfortunes.

"There's reason enough to be anxious", CFDT leader Laurent Berger.

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