Edition:
United States

Air France Proposes Final Agreement On Salary Increases


Monday, 16 Apr 2018 03:05pm EDT 

April 16 (Reuters) - AIR FRANCE KLM SA ::MANAGEMENT PROPOSES A FINAL AGREEMENT FOR SIGNATURE UP TO FRIDAY 20 APRIL 2018 AT MIDDAY.FOR 2018, PROPOSES ADDITIONAL PAY INCREASE OF 1%, BRINGING OVERALL INCREASE TO 2% AT 1ST APRIL 2018.2018 ADDITIONAL INCREASE OF 1% IS ACCOMPANIED BY A MINIMUM THRESHOLD OF 25 EUROS PER MONTH.FOR 2019, 2020 AND 2021: A GENERAL WAGE INCREASE OF 5% OVER THE PERIOD (1.65% PER YEAR), GUARANTEED UNDER THE GROWTH PACT.FOR 2019, 2020 AND 2021: THIS INCREASE OF 1.65% PER YEAR IS ACCOMPANIED BY A MINIMUM THRESHOLD OF 40 EUROS PER MONTH.WITH THIS AGREEMENT, SALARIES WOULD INCREASE, ON AVERAGE OVER THE PERIOD, BY 12.5%.ESTIMATED COST OF THESE STRIKES, INCLUDING 17 AND 18 APRIL, IS 220 MILLION EUROS..PROPOSAL INCLUDES PLANS TO ADAPT INCREASE IF CO'S FINANCIAL RESULT IS LESS THAN 200 MILLION EUROS.PROPOSAL INCLUDES PLANS TO APPLY A REVERSION CLAUSE IN CASE OF HIGHER INFLATION OR A NEGATIVE FINANCIAL RESULT.