French-Dutch airline giant Air France-KLM is deciding on a transition plan for management when CEO Jean-Marc Janaillac leaves on May 15.
Reuters reports.
More than half of the French airline's staff voted against a proposed 7 percent pay increase over four years, prompting Janaillac to resign. Pay-related strikes have reportedly cost the company 300 million euros so far this year. The strikes are expected to resume tomorrow and Tuesday.
Finwire reported this week that the aviation giant reported increased revenue in the first quarter compared to the same period the previous year, but also an increased net loss.
As a result of strikes and macroeconomic adjustments, it is estimated that this year's operating profit will be noticeably lower than last year's.
Source: finwire
