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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Air France-KLM    AF   FR0000031122

AIR FRANCE-KLM

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Air France KLM : reaches pay deal with ground staff

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01/11/2019 | 09:13am EDT
FILE PHOTO: An Air France Airbus A330 airplane lands at Charles de Gaulle Airport near Paris

(Reuters) - Air France said on Friday it had reached a pay agreement for 2019 with unions representing ground staff, as it seeks to move on from labour disputes which weighed on its results last year.

The deal will provide for pay increases of 1.8 percent, as well as money to finance individual bonuses and measures to make the payment of overtime easier, Air France said.

The airline was hit by a series of costly strikes in 2018, which led to the departure of chief executive Jean-Marc Janaillac in May and his replacement by former Air Canada executive Ben Smith.

On Thursday Air France announced the signing of a new agreement with cabin crew.

"Together with yesterday's signing of the agreement with Air France cabin crew, this is proof of our dedication to re-establishing trust with all Air France employees," Smith said in a statement.

The agreements come in addition to an agreement signed in October that drew a line under the standoff with unions. That deal provided for an increase of 2 percent for 2019 for all Air France employees.

The deal with ground staff was signed with the unions CFDT, CFE-CGC, FO and UNSA aerien Air France, the company said.

(Reporting by Alan Charlish in Gdynia; editing by Jason Neely)

Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA -0.98% 31.44 Delayed Quote.21.11%
AIR FRANCE-KLM -2.23% 10.3 Real-time Quote.11.13%
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Financials (€)
Sales 2019 27 564 M
EBIT 2019 1 348 M
Net income 2019 632 M
Debt 2019 6 327 M
Yield 2019 0,05%
P/E ratio 2019 6,68
P/E ratio 2020 5,61
EV / Sales 2019 0,39x
EV / Sales 2020 0,35x
Capitalization 4 516 M
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Technical analysis trends AIR FRANCE-KLM
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Mean consensus HOLD
Number of Analysts 21
Average target price 11,2 €
Spread / Average Target 6,5%
EPS Revisions
Managers
NameTitle
Anne Rigail Chief Executive Officer
Anne-Marie Couderc Non-Executive Chairman
Frédéric Gagey Chief Financial Officer
Jean-Christophe Lalanne Executive Vice President-Information Technology
Maryse Aulagnon Independent Director
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