August 13, 2018 / 7:16 AM / 2 months ago

Air France KLM shares fall on risks of further strikes

PARIS, Aug 13 (Reuters) - Air France KLM shares fell on Monday, after the airline’s biggest pilots union said over the weekend that there were risks of further strikes if pay talks with management did not resume.

Air France KLM shares were down 2.9 percent in early session trading. The stock is down by around 36 percent so far in 2018.

On Sunday, Philippe Evain, head of the powerful SNPL pilots’ union, threatened in an interview with Le Parisien newspaper 15 more days of strikes if the new Air France KLM chief executive did not restart talks over pay conditions.

Air France-KLM has been hunting for a new boss since the abrupt departure of CEO Jean-Marc Janaillac in May after staff rejected a pay offer aimed at ending the strikes which have so far cost the company 335 million euros ($383 million).

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.

$1 = 0.8777 euros Reporting by Sudip Kar-Gupta and Laetitia Volga; Editing by Geert de Clercq

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