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Air France-KLM - one of Europe's biggest airlines - has seen a series of strikes in recent weeks.

Janaillac, who is the chairperson at Air France as well as the chair and CEO of parent group Air France-KLM, agreed to stay on until a 15 May shareholder meeting, the company said in a statement. Zacks Investment Research raised shares of Air France-KLM from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a report on Thursday, January 4th.

Janaillac was named chief executive in 2016 with a mandate to ease tensions after years of strikes and labour disputes - including a notorious 2015 incident when two executives had their shirts torn off while escaping workers protesting plans to cut almost 3,000 jobs.

Janaillac has been at the airline for less than two years and has spent his tenure fighting to cut costs at the French airline in order to compete with low-priced airlines and Gulf carriers, something that his predecessor also tried to do.

Despite the strike, the company says it will be able to maintain 99% of long-haul flights on Monday, 80% of medium-haul and 87% of short-haul.

The airline, which emerged from a tie-up between Air France and KLM Royal Dutch in 2004, earlier on Friday released quarterly earnings figures, announcing losses for the first three months of the year.

Air France and KLM merged in 2004. Air France-KLM has an average rating of "Hold" and a consensus target price of $18.00. They transport tens of millions of passengers around the world every year.

The Air France turmoil has coincided with other strike action as rail workers press on with rolling stoppages to protest President Emmanuel Macron's planned privatization of SNCF, the state-run train operator. Prior to the vote, Janaillac said it would be hard for him to remain CEO if staff rejected the pay offer.

"That has been proved in the cases of the turnarounds achieved by Iberia and British Airways".


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