On Friday after employees rejected a proposal on salary raises, with labour unions demanding a faster raise, CEO Jean-Marc Janaillac resigned. This morning, French minister of Finance Bruno Le Maire said that the future of the airline is in doubt, and that the French government will not intervene in case of financial troubles. Strikes from mainly French employees of the airline have led to profits of the group to be vaporized.
Financially, the Dutch part, KLM, has performed better than Air France.
I don't think the French government will really let Air France disappear, but maybe a GM style 'reorganization', with investors losing all their money could be possible in the further future? And are there any major shareholders that would consider a demerger?
note: I do not hold any shares in this company
Submitted May 07, 2018 at 03:40AM by tt598 https://ift.tt/2roxDzV
