Air France shares nosedive after CEO bails

Turkey vows to launch new cross-border military operations

French Finance Minister Bruno Le Maire had urged the airline and its workers to resume talks on Sunday, saying that if Air France did not become more competitive it "will disappear".

Before that, the President of Air France and CEO of Air France-KLM, Jean-Marc Janaillac, resigned, as he had promised in the case his proposal did not obtain the support of the workers.

Unions have been calling for a 5.1% 2018 increase, arguing that salaries have stagnated in recent years.

On Friday Air France-KLM's chief executive quit over the crisis.

Air France is fell 10% on the stock market Monday after announcing Friday losses of 269 million euros during the first quarter of 2018.

Air France said Friday that rising expenses for jet fuel plus a stronger euro will add to the burden caused by a string of walkouts by staff fighting for higher wages.

The strikes have taken a heavier toll on Air France than management and investors expected, and the company last week forecast a "notably" lower income this year compared to 2017.

On PM Modi'S-List Of Accusations Towards Congress, Tipu Sultan Jayanti
While the BJP was fighting against the corrupt system, the Congress protects the corrupt, he alleged. The counting of votes will take place on May 15 .

Palace's Patrick Van Aanholt Apologises For Scoring Goal That Relegated Stoke City
It was the Swiss forward's first goal since February and he celebrated by sprinting to the touchline to jump into Lambert's arms. They couldn't cling onto their lead and Palace midfielder James McArthur equalised with a clinical finish in the 68th minute.

Teams who win Champions League are lucky, says Antonio Conte
Liverpool will play Real Madrid in Kiev on May 23 and Klopp will be hoping he can end his five-match losing streak in finals. The Blues have a game in hand over Liverpool, who sit six points ahead in third. "They need to win and we want to".

The CEO of Air France, Franck Terner, will oversee the day-to-day operations of the company.

Air France has said that "nearly 85 percent" of its flights would be operating, including 99 percent of long-haul flights, 80 percent of its medium-haul flights to and from Charles de Gaulle and 87 percent of short-haul flights to Orly airport and elsewhere in France.

It has been forced to ground 15 percent of its flights on Monday and 20 per cent on Tuesday.

After a protracted financial slump, Air France-KLM profits climbed a year ago as it expanded its global alliances and launched a new budget airline.

The overall cost of eleven days of strikes is estimated at some 300 million euros (almost $359 million), with one day of protests costing the company slightly more than 25 million euros.

This is in sharp contrast to its performance a year ago, when the shares rose 160 percent as Janaillac initiated reforms to restructure and improve the finances of its French brand, said Roche Brune Asset Management's Laverne.

The airline said: "Air France deplores the continuation of these strikes even though the period that opens does not allow to pursue any negotiation".

Related news:

Hot News

isis-killer-beheading-video-story-top Android Auto is getting some slick design changes at Google I/O 2018
May 08, 2018 - 01:03
Google is going to announce its in-house Android TV dongle which will also support a remote for one-handed navigation experience. Now called Wear OS, the newly branded OS just picked up a few new Assistant features to make it a more powerful wrist companion.

isis-killer-beheading-video-story-top Marcelo makes handball admission after helping Real Madrid to Champions League final
May 07, 2018 - 01:08
There was humility, too, from Real midfielder Lucas Vazquez, who performed manfully at full-back. There you have it, a Champions League final that no one imagined two months ago.

isis-killer-beheading-video-story-top Hardik keeps Mumbai Indians' IPL hopes alive
May 07, 2018 - 01:07
Skipper Rohit, who struggled to get going initially, has found some sort of form and now will have to lead from the front. Having scored 103 runs in the first 11 overs, Mumbai added only 78 in the final nine overs for a disappointing finish.

isis-killer-beheading-video-story-top Real Madrid to deny Barca guard of honour
May 07, 2018 - 01:07
Zidane's opposite number was also keen to stress there would be no easing-off from his side despite their title success. Here are the five things one should expect from the match.

isis-killer-beheading-video-story-top Giuliani: Trump Should Not Testify Before A Mueller Grand Jury
May 07, 2018 - 01:01
"How could I ever be confident of that?" the former New York City mayor and US attorney said Sunday on ABC's "This Week". The payoff is the surprise appearance of Daniels, whose real name is Stephanie Clifford, herself.

Man Group Plc (EMG) Plans Dividend Increase - GBX 4.18 Per Share
May 07, 2018 - 01:00
Nomura Asset Limited has invested 0% in Ashtead Group plc (LON:AHT). 15,541 are owned by Neuberger Berman Gp Lc. Moreover, Royal State Bank Of Canada has 0% invested in Pets at Home Group Plc (LON:PETS) for 37,821 shares.

MC Mining's (MCM) Buy Rating Reiterated at Peel Hunt
May 07, 2018 - 00:55
Los Angeles Capital Management & Equity Research Inc acquired 43,485 shares as Kronos Worldwide Inc (KRO)'s stock declined 14.39%. Virtu Financial Ltd Limited Liability Company has 0.01% invested in Greencore Group plc (LON:GNC) for 74,818 shares.

isis-killer-beheading-video-story-top English Premier League: With top four at stake
May 07, 2018 - 00:51
The win takes the Blues to 69 points, two behind Tottenham Hotspur who lost 1-0 to West Brom on Saturday, with two fixtures left. As mentioned before, Liverpool's progress into the Champions League finals could play a huge role on how this game sets up.

isis-killer-beheading-video-story-top Weekend box office: Avengers: Infinity War keeps going strong
May 07, 2018 - 00:49
Even though critics weren't particularly gained over by "over board", crowds gave the picture an even positive A- CinemaScore. The superhero tentpole opened to $257.6 million last weekend , attaining the highest-grossing opening weekend of all time.

isis-killer-beheading-video-story-top Former Tar Heel, Raleigh native Jenkins repeats PGA appearance at Wells Fargo
May 05, 2018 - 19:36
Charlotte's Quail Hollow Club isn't hosting one of golf's major championships this year, as it did a year ago with the PGA. Tiger Woods , meanwhile, birdied his final hole of the second round to leave him a shot inside the projected cutline.

isis-killer-beheading-video-story-top RCB gets De Villiers boost for clash with CSK
May 05, 2018 - 19:32
Earlier, disciplined bowling by CSK and a few reckless shots by the RCB batsmen saw the visitors being restricted to a low total. Jadeja, however, had a stoic look on his face nearly giving no indication that he had not only got a wicket , but a huge one.

isis-killer-beheading-video-story-top Three women sue Charlie Rose, CBS News for sexual harassment
May 05, 2018 - 19:28
Harris and McNeal also claim the network fired them after news broke about Rose's alleged misbehavior. The complaint also accused the network of demoting Wei in retaliation for her complaint against Rose.

isis-killer-beheading-video-story-top Toronto Raptors vs. Cleveland Cavaliers, 5-5-2018 - Prediction & Preview
May 04, 2018 - 13:54
Throughout the regular season, no team had better point differential in the clutch than the Cavaliers (plus-80 in 154 minutes). Early in the second quarter of the Game 1 victory Tuesday at Toronto, the Cavaliers had the mismatch they wanted.

isis-killer-beheading-video-story-top Amid Trump threats, Tehran says nuclear deal is all-or-nothing
May 04, 2018 - 13:51
Had they been fully effective, there'd have been no need for the nuclear deal in the first place. Iran's tech-savvy young people are by and large more progressive than previous generations.

isis-killer-beheading-video-story-top China secretly installs cruise missiles on South China Sea outposts
May 04, 2018 - 13:50
This was following reports of missiles being deployed to three of the country's outposts in the disputed region, CNN reported . Although the report has not been confirmed, this can be the first Chinese missile deployments in the disputed Islands.