Air Transport World

Air France.

Air France pilots voted 79%-21% in favor of accepting a shares-for-wage cuts exchange operation proposed by the airline, spread over a 7-year period, during which there will be a wage freeze. AF said the program would enable it to make annual savings of Ffr240 million ($42 million).

Around 20% of AF worth between Ffr3.5 billion and Ffr4 billion is expected to be sold off in the forthcoming partial privatization. Pilots will take up to 12% of the capital and other employees a further 3. …

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