AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)

The next chief executive of Air-France-KLM must not be beholden to external interests, said a senior French pilot on the group's board of directors, criticising the possible choice of Air Canada's chief operating officer as preferred candidate.
Le Monde this week reported that Air France-KLM's nominations committee had picked Canadian Benjamin Smith as its top candidate to head the airline at a time the French brand, Air France, is struggling to cut costs amid union opposition.
The group has not denied Smith is a candidate, saying only that no decision has been made yet. Air Canada has made no comment. "It might be useful to say what Air France does not need: enough with candidates who are ambassadors for external interests," Paul Farges, a board director representing employee shareholders, wrote in Sunday's Journal du Dimanche newspaper.
Farges' comments highlight the opposition among Air France staff to any new chief who might ride roughshod over their demands, in particular over higher pay, and focus on cost-cutting rather than restoring the Franco-Dutch group's reputation as a leading aviation player.
Meanwhile, Philippe Evain, head of the muscular SNPL pilots' union, threatened in an interview with Le Parisien 15 more days of strikes if the next CEO does not resume wage negotiations. The French state is the biggest shareholder in Air France-KLM with a stake of about 14 percent. Delta Airlines and China Eastern Airlines each hold 8.8 percent.
Government officials say President Emmanuel Macron is open to considering a non-French national to lead the group for the first time. The appointment is seen as a test of Macron's resolve for the state to take a lighter touch on the economy. Referring to the potential pick of a North American boss, Farges wrote: "Would France not be renouncing its air sovereignty at a time each country is bitterly defending the economic interests of its companies?" Air-France-KLM has been hunting for a CEO since the abrupt departure in May of Jean-Marc Janaillac, who quit after pilots led a revolt against a pay offer aimed at ending costly strikes.
Aviation analysts say Air France needs to cut costs, as its sister brand has, to keep up with leaner rivals in Europe including British Airways and Lufthansa and compete with the rise of low-cost carriers and Gulf carriers.
Farges said Air France workers were not to blame for the challenges facing the unit.
"Air France's difficulties this summer are not related to a failure of employees, but to the attrition of the fleet at a time when the growth of the market requires increasing the volume of supply and staff," he said.
An eventual vote on a new CEO will go to the 18-strong board of directors.

Copyright Reuters, 2018

Comments

Comments are closed.