Air France-KLM CEO Jean-Marc Janaillac To Quit After Workers Reject Pay Deal

(RTTNews) - Air France-KLM (AFRAF.PK) CEO Jean-Marc Janaillac said on Friday that it will submit his resignation next week after a majority of Air France employees at the strike-hit airline rejected a new pay deal.

The vote period ended Friday May 4, with 46,771 staff on French contracts at Air France given the chance to have their say electronically on the multi-year pay proposal management had put forward. With a participation rate of 80.33%, 55.44% of employees voted "no", Air France said.

As a result, the pay agreement proposal of 16 April ensuring a 7% wage increase over 4 years, including a 2% increase in 2018, is no longer valid.

Air France said that Janaillac will meet the Air France-KLM and Air France boards on May 9 to submit his resignation, adding that it would be their responsibility to take the appropriate measures to ensure the continuity of the group and Air France during the transition period.