The share price of Air France-KLM at one point on Monday, July 9, rose 8.4 percent, the largest increase since 2017. The rise reflects the company’s 3.5 percent rise in passenger traffic for June. The share price peaked at €7.46 (US$8.73) and closed at €7.34 (US$8.59), up 6.34 percent.
In addition to the positive uptick in passenger numbers, Air France-KLM may be a step nearer appointing a new CEO to replace Jean-Marc Janaillac who resigned in May, having failed to resolve current conflicts with unions over pay increases.
Last month’s news of the intention to appoint the water utility Veolia’s CFO, Philippe Capron, was opposed by shareholders, resulting in his withdrawing his candidacy. With the principal point of concern being Capron’s lack of experience in the airline industry, a more focused approach for a suitable candidate ensued.
The result has seen Air France-KLM now pushing for Catherine Guillouard, the current head of Paris metro operator RATP, to take up the role of CEO, having previously worked for Air France, joining in 2007 and working her way up to become CFO and deputy head of human resources. She also has a seat on the board of Airbus SE and had previously worked as director at ADP, the airport operator for Paris.
According to French newspaper Le Figaro, President Emmanuel Macron’s office is handling the matter directly and should make a decision next week. However, the newspaper has not cited it sources and while Macron’s chief of staff, Alexis Kohler, met with Guillouard last week, there has been no response from Kohler’s office for requests for comments.
