Roissy, 20 April 2018
Since 22 February 2018, Air France
has faced nine days of strikes over pay demands. Following the
completion of the negotiations, and to put an end to the conflict,
on 16 April Management drafted a final multi-year pay proposal
ensuring a 7% wage increase over 4 years, in addition to the
individual increases. This agreement based on a "growth pact for
the future" has been proposed in order to pursue the growth path
initiated with Trust Together while recognizing staffs' efforts in
a balanced way as promised by Management. This agreement, open to
signature by the representative unions until today, Friday 20 April
at midday, has not received the majority signatures
required.
Since November 2016, Air France
has been committed to an offensive growth strategy, which has
notably resulted in the launch of a new airline, the entry of new
partners into the company's capital, the signature of new
alliances, new route launches and resumed hiring.
This positive dynamic designed to
enable Air France to make up for lost ground produced initial
results in 2017 but must be continued in an uncertain context and
facing increasingly fierce competition.
To date, the estimated cost of
this conflict is over 220 million euros. To allow the company to
find a way out of this deadlock situation with serious consequences
for the company's customers and staff, Air France Chairman,
Jean-Marc Janaillac, has decided to launch a consultation with all
the staff.
This consultation by electronic
vote, which will begin on 26 April and end early in May, will
invite all company staff to give their opinion on the agreement
proposed on 16 April 2018.
"Air France must
emerge from this impasse. In the face of such a severe situation
and because the company's future could be under threat, I have
decided to launch this consultation with all staff who over several
years have been fully committed to improving Air France's
competitiveness. I cannot accept the disaster unfolding whereas a
large majority of staff are not taking part in the strike action.
Therefore, to put an end to this disaster and re-affirm the entire
company's commitment to the growth dynamic, I am calling on
everyone to make their voices heard. I will be personally
accountable for the consequences of this vote", Jean-Marc
Janaillac, Chairman of Air France.
Investor
relations
Marie-Agnès de
Peslouan
Wouter van
Beek
+33 1 49 89 52 59
+33 1 49 89 52
60
madepeslouan@airfranceklm.com
wouter-van.beek@airfranceklm.com
AIR FRANCE-KLM statement
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announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
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information contained therein.
Source: AIR FRANCE - KLM via Globenewswire
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