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Air France-KLM shares drop, CEO to leave, government won't help...

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Staff Writer | May 7, 2018
Air France
Airline   Air France said 15 percent of its flights would be cancelled

Air France-KLM shares fell as much as 14.3 percent to an intraday low of 6.93 euros ($8.30) in early trading, around at their lowest level since April 2017. The stock was down 13.3 percent at 7.02 euros by 0810 GMT.

Air France-KLM's board will decide on a management transition plan on May 15. The government over the weekend said the French state, the largest shareholder with a 14 percent stake, would not ride to the airline's rescue.

Air France said 15 percent of its flights would be cancelled on Monday as pilots and cabin crew went on strike over the pay dispute for a 14th day since February.

Air France-KLM shares are down almost 50 percent since the start of 2018.


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