Air France CEO quits amid strikes as share prices tumble

Air France CEO Jean-Marc Janaillac has resigned after staff rejected a new pay deal and continued their industrial action.

The BBC reports that shares for the loss-making airline also fell 14 per cent after the resignation was announced.

France’s economy minister Bruno Le Maire warned that Air France could “disappear”.

“I call on everyone to be responsible: crew, ground staff, and pilots who are asking for unjustified pay hikes,” he said, according to the BBC.

“The survival of Air France is in the balance.”

“Air France will disappear if it does not make the necessary efforts to be competitive.”

The airline has been facing industrial action from pilots, cabin crew and ground staff since February 22.

Yesterday’s walkout marked 14 days of industrial action, as workers fight for a 5.1 per cent pay increase after years of stagnant wages.

France is also experiencing train strikes at the state-owned SNCF rail company.

Despite the continued strike, the airline insisted it would maintain 99 per cent of long-haul flights, 80 per cent of medium-haul and 87 per cent of short-haul flight, yesterday.

The strikes are also the result of new labour laws that could prevent workers from taking industrial action and could take away many employee benefits.