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French Minister Warns Air France Will "Disappear" Unless Crisis Stops

07 May, 2018, 16:28 | Author: Sara Gill
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On Monday Air France said 15 percent of its flights would be cancelled as pilots and cabin crew went on strike for the fourteenth time since February.

Air France-KLM boss Jean-Marc Janaillac announced his resignation Friday after staff at the carrier's French operations rejected a pay deal aimed at ending months of walkouts.

The French finance minister Bruno Le Maire called into question the survival of the national air carrier Air France on Sunday.

Air France-KLM's board will also meet then. 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 will disappear if it does not make the necessary efforts to be competitive", he said, ruling out any government intervention to cover the company's debts.

The airline said 99% of its long-haul flights would operate out of Charles de Gaulle, along with 80% of medium-haul flights from the same airport.


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

Back in 2015, protesters ripped the shirts off Air France executives after the company revealed plans to cut thousands of jobs.

Le Maire said French taxpayers won't bail the company out. "I think we can find a way out".

But many analysts say Air France has lagged far behind in restructuring and has failed to address its continued losses.

The Air France turmoil has coincided with other strike action in France where rail workers press on with rolling stoppages to protest President Emmanuel Macron's planned overhaul of SNCF, the state-run train operator.

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