- Air France-KLM (OTCPK:AFLYY) has issued a warning, stating it is preparing to cancel approximately 60% of its scheduled flights tomorrow due to a contract dispute with pilots.
- The strike could expose the airline to as much as €15M ($19.4M) in extra costs and lost revenue a day, says Air France CEO Frederic Gagey.
- The airline has recently announced its plans to recapture market share from lower-cost airlines, by transferring most of its short- and medium-haul services to its low-cost unit Transavia.
- The planned shift has angered the main pilot union at Air France, which has called for a one-week strike to protest the cost-cutting measures.