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Air France-KLM plunges as CEO to quit, government says will not help

Updated : May 07, 2018 03:22 PM IST

CEO Jean-Marc Janaillac's attempt to cut costs at the carrier to keep up with competition from budget airlines and Gulf rivals ran into strong union resistance, as had his predecessor's efforts, raising questions over its ability to reform.
Air France-KLM shares suffered their biggest one-day fall in a decade on Monday after its chief executive said he would resign following the rejection of a pay deal by the airline's staff.
Air France-KLM plunges as CEO to quit, government says will not help

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