Air France strikes are rarely worth covering. On any given day of course there’s a threat of a strike. They’re French. That’s what they do.
While much of the Air France KLM business has performed well, though not as well as peers, mainline Air France managed just a 1% operating margin in the fourth quarter. That’s despite holding labor costs constant. They have a revenue problem, and labor groups aren’t happy that they don’t have a cost problem too.