French Minister Warns Air France Will "Disappear" Unless Crisis Stops
08 May, 2018, 01:07 | Author: Julio Duncan
Late on Friday, a visibly shaken chief executive Jean-Marc Janaillac threw in the towel, resigning from a post he held for less than two years after failing to win backing from employees for his pay proposals.
The French government owns 14.3% of the Air France-KLM parent group.
Shares in Air France-KLM crashed as much as 14.5% on Monday after the group's CEO quit over a pay dispute and the French government said it would not intervene to help.
Air France-KLM shares fell more than 14 percent before recovering some losses to trade down 10 percent at 7.28 euros ($8.68) at 1230 GMT, their lowest level since April 2017.
France's economy minister on Sunday warned that the survival of Air France was now in the balance.
Travellers should expect last minute delays and cancellations, Air France said, adding it will update its flight schedule for Tuesday later today.
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.
"The important issue is right now that the company will disappear if it does not take necessary steps to be more competitive", Bruno Le Maire told French news channel BFM, warning of the impact of more strikes.
Walkouts that led to the resignation of Mr Janaillac on Friday are continuing this week, with about 15 per cent of services scrapped today, the airline said on its website.
Air France-KLM reported a net loss of €269m (£238m) in the first quarter of the year.
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.
And now, the Red Devils seem to be preparing yet another swap deal, this time involving a midfielder from London giants Chelsea . Anthony Martial has failed to hold down a regular starting spot under Jose Mourinho in the past two seasons.
In an interview with The New York Times, he even said that he was her "pawn", but later retracted the statement. Rihanna winces slightly at the mention of the rapper's name before her eyes glaze over with cool indifference.
The SEC said it asked a federal judge to step in after Carter ignored two subpoenas requesting his testimony. And just previous year , the company triggered another Rocawear write-off to the tune of $34 million.
Shahid Khaqan Abbasi, the prime minister, condemned the attack as Pakistan prepares for federal elections expected this summer. Police had increased security at the hospital and high-ups visited the medical facility to check the security arrangements.
About 14,000 customers of Hawaii Electric Light lost power immediately after Friday's 6.9 magnitude quake. Exposure to the gas can cause irritation or burns, sore throats, runny noses, burning eyes and coughing.
But with Barca remaining on track to go the entire LaLiga season unbeaten, Iniesta was happy to be able to go out on a high. His first shot was saved by Marc-Andre Ter Stegen, the second fired wide of the far post.
Yet when asked that same question by Congress at a public hearing previous year , he declined to provide that same reassurance. Comey said the country would be better off if "our leaders" tried to emulate them instead of "comparing them to Nazis".
Investors who do so may be totally missing the point, as Apple boasts a "wide, wide gap" against its peers, said Buffett, 87. Berkshire had $116 billion in cash at the end of past year , so has plenty of spare money to make big investments.
Mobile Internet services also remained suspended for the second day in the region. "But they refused", Vaid said. The Kashmir University, where he taught, was ordered closed for two days, according to a university statement.
Jurgen Klopp insists his only focus is on Liverpool's upcoming "semi-final" in the Premier League against Chelsea . For that, of course it helps massively if you have this obvious sign: being in the Champions League final .
Outfielder Mookie Betts hit three home runs Wednesday to become the only Red Sox player with four career three-homer games. Duffy tied a career high by allowing three homers in a start for the eighth time and second time this season.
Wenger and Guardiola lead tributes to legend
Others also pointed to Sir Alex's infamous ability to put up a good fight as they voiced their hopes he would pull through. Keown's emotions got the better of him on that day and he was suspended for three matches and had to pay a £20,000 fine.
Bandits kill 45, burn village in Kaduna
The Kaduna State Government has commiserated with the people of Birnin Gwari following fatal attacks on the area by bandits. The Kaduna State police command has not confirmed the attack as at the time of filing this report.
U.S. unemployment rate falls to 3.9 percent - lowest since 2000
Fiscal stimulus coming from the December tax cuts and increasing government spending is likely a major factor behind the strength. Orders for nondefense capital goods minus aircraft fell a revised 0.4% during March, more than the originally reported 0.1% drop.
Bay Area Free Comic Book Day 2018 Guide
Since 2002, the first Saturday of May has been dubbed Free Comic Book Day . "It is our biggest day of the year". Popular series available this year include Pokemon, Doctor Who , SpongeBob, and Star Wars.
Four killed in Srinagar gunfight, clashes
Internet services have been suspended in Srinagar to prevent people from sharing information about the situation in Chattabal. The two men were abducted from their houses located in Gulshan Mohalla of the village in the intervening night of May 4-5.
Indian cities top WHO list of most polluted in the world
New data released by World Health Organization shows that nine out of 10 people breathe air containing high levels of pollutants. As per the ambient air quality report released by the in 2017, Lucknow had "good quality air" just for 17 days.