Air France shares lose 13% of its value on the Paris Stock Exchan

Shares of France-based airline Air France-KLM lost 13 percent of their value in morning trading on the Paris Stock Exchange yesterday after Jean-Marc Janella, the company's chief executive, announced his intention to resign.
Last Friday, Genilla announced his resignation after a majority vote of the company's employees, refusing to raise their wages by 7 percent in four years in return for ending their strike.
Trade unions, which have called for repeated strikes for a day and two days since February, demand a 5.1 percent wage increase this year to compensate for the wage stabilization accepted by the company's employees since 2012.
In early morning trading, Air France-KLM was priced at 7.11 euros ($ 8.48), against 8.096 euros at the close of last Friday.
The stock fell to 6.932 euros in one hour of trading, before rebounding slightly after 10 am (0800 GMT), slightly to 7.03 euros.
This came in light of the stability of the stock market, where the index of "CAC 40" French shares by only 0.11 per cent before 10 am Paris time.
Gannela plans to hand over his resignation formally at meetings of the board of directors of Air France and Air France-KLM tomorrow, his company said after announcing his resignation on Friday night.
With the strike of the company's employees yesterday, the company said it expects to run only 85 per cent of scheduled flights.
French Economy and Finance Minister Bruno Lemerre warned on Sunday that Air France-France's continued risk was jeopardized by the resignation of its chief executive, Jean-Marc Janayak, over a salary dispute.
Employees began yesterday a 14-day strike to demand a 5.1 percent pay rise this year as the company recovered from years of losses and restructuring, according to "French".
"I call on everyone to be responsible: crews, ground personnel and pilots who ask for unjustified salary increases," the minister told the BFM news channel.
"Stay in charge." The continuation of Air France is in jeopardy.
He warned that the state, which owns 14.3 percent of the group, would not provide support to the company.
"Air France will be gone if the necessary efforts are not made to be competitive," he said, ruling out the government's intervention to repay the company's debts.
Air France-KLM recorded a net loss of 269 million euros ($ 322 million) in the first quarter.
French Prime Minister Edouard Philippe received representatives of railway unions for the first time since the start of their strike in a move that the government sees as "an outstretched but firm hand," noting that it intends to discuss debt without compromising reform.
According to "French", the Prime Minister received yesterday, the unions of railway workers, each individually, accompanied by their officials.

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