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Air France-KLM to decide on management plan on May 15 as CEO leaves

Published 05/05/2018, 02:24 PM
Updated 05/05/2018, 02:30 PM
© Reuters. Jean-Marc Janaillac, CEO of Air France-KLM Group, attends a news conference in Paris
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PARIS (Reuters) - Air France-KLM's (PA:AIRF) board will decide on a management transition plan on May 15, the company said on Saturday, after CEO Jean-Marc Janaillac said he would step down when staff at its French brand rejected a pay deal.

More than half of the staff at the French carrier who cast a ballot voted against the offer of a 7 percent salary increase over four years, prompting Janaillac to say he would resign.

Strikes over the pay dispute, due to resume on May 7 and May 8, have cost the company 300 million euros ($360 million) so far.

Janaillac, who is chairman at Air France as well as chairman and CEO of parent group Air France-KLM, agreed to stay on until a May 15 shareholder meeting, the company said in a statement. Air France-KLM's board will also meet then.

© Reuters. Jean-Marc Janaillac, CEO of Air France-KLM Group, attends a news conference in Paris

($1 = 0.8363 euros)

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