Air France estimates pilot strike at €500mln in lost revenueOctober 8, 2014 - 16:01 AMT PanARMENIAN.Net - Air France has estimated that last month's strike will cost it about €500mln in lost revenue, BBC News reports. The struggling French flag carrier was in dispute with pilots over plans to expand its budget subsidiary Transavia. Finance director Pierre-Francois Riolacci said there would be an immediate impact of about €320-350mln, plus loss of future business. Shares in Europe's second-biggest airline fell 2%, at one point touching the lowest level in a year. The company has already cut its profit target for 2014. Air France said that total passenger traffic fell 15.9% in September, adding that bookings for the next three months were also down. The airline put the expansion of its Transavia budget carrier on hold after the two sides agreed to talks. Pilots objected that the move of staff to Transavia would erode existing contracts. Air France wanted to expand its budget division to compete with the likes of Ryanair and easyjet. Prime Minister Manuel Valls warned last month that the two-week strike was creating "real danger" for the airline and the image of France. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |