Paris: Air France shares went into a tailspin on the Paris stock exchange Monday after the strike-hit company's CEO resigned and the government seemed to worry about the carrier's very chances of survival.
The strike has had an impact of more than?300m euros, as reported by the airline.
'Be responsible. The survival of Air France is in the balance, ' he added.
By 1455 BST, Air France shares were 9.91% lower at €7.29.
Janaillac warned a year ago that volatile fuel prices and geopolitical risks could threaten the company's turnaround, but didn't appear to predict the heavy toll that the strikes would take.
Air France-KLM shares fell earlier Friday after the company announced the strikes had already cost the airline at least 300 million euros ($359,000).
The French government, which is the national carrier's largest shareholder with a 14 percent stake, has said it will not ride to the rescue and a meeting of Air France-KLM's board has been called for May 15 to decide on a management transition plan.
British Airways and Lufthansa have already undergone heavy cost-cutting in recent years, amid rising competition from low-priced airlines and carriers from the Gulf states.
Black Unemployment Rate at 6.6%, Sharply Above National Average
Which is to say that we need a lower unemployment rate than we used to for workers to have the bargaining power they did before. All this said, the 0.2 percent decline in America's unemployment rate between March and April isn't unambiguously good news.
Staff at Air France-KLM have been locked in a dispute over pay since February, with unions demanding 5.1 per cent increases this year, and are set to walk out for the 14th day today.
The Air France drama poses yet another problem for President Emmanuel Macron's government as he marks a year in office.
Profits at the Dutch sister company KLM, which has succeeded in cutting costs, rose in the first quarter, contrasting with losses at Air France.
Air France warned that industrial action would continue to affect its services today and tomorrow.
On Sunday, Mr. Le Maire disclosed to French news channel BFM: "I approach everybody to be mindful: group, ground staff, and pilots who are requesting unjustified pay climbs".
Bloomberg reports that the airline group's stock has dropped as much as 14 percent as of Monday, the biggest decline since 2002.
"Air France will disappear if it does not make the necessary efforts to be competitive", he warned.