The Finance Minister of France, Bruno Le Maire, said on Sunday that the government, which owns 14 percent of Air France, would not rescue the airline.
The share prices were followed by the resignation of the CEO of Air France- KLM, Marc Janaillac, after the workers rejected the latest wage proposal.
Janaillac resigned on Friday after striking staff rejected a final pay offer of a 7 per cent wage increase over four years, as they continue to push for a 5.1 per cent increase this year. Janaillac will meet with the Air France-KLM and Air France boards May 9 to submit his resignation.
Shares in Air France-KLM tumbled on Monday after CEO Jean-Marc Janaillac's gamble to put a salary hike offer to employees backfired on Friday, prompting him to announce he would step down.
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His son and wife, Cathy, were with him, the Guardian reported . "He needs a period of intensive care to optimise his recovery". Edwin van der Sar: Devastated about the news about Sir Alex and knowing all too well about the situation ourselves.
Air France-KLM is one of Europe's biggest airlines, but has seen a series of strikes in recent weeks.
Air France reported Friday that it lost $320 million in the first quarter of 2018, adding that the strike will lead to at least $330 million more in lost revenue through the end of the year.
Until new management plans are in place, Air France executives lack a mandate to continue negotiations with unions, prolonging the dispute.
Air France's share price plunged almost 13% at the open on Monday and was trading 10.9% lower at 7.21 euros in the early afternoon in Paris amid questions about its future management and direction.
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He pledged to the cheering crowd that those rights "will never, ever be under siege as long as I'm your president". David Hogg, another Parkland shooting survivor and student activist, responded on Twitter.
"The survival of Air France is in the balance", he said, adding that the state would not serve as a backstop for the airline's debts.
Air France has said that "nearly 85 percent" of its flights would be operating, including 99 percent of long-haul flights, 80 percent of its medium-haul flights to and from Charles de Gaulle and 87 percent of short-haul flights to Orly airport and elsewhere in France. Strikes have already cost the company €300 million.
The government of French president Emmanuel Macron is involved in its own ongoing battle with broad swaths of society which are resisting economic reforms.
The strikes have taken a heavier toll on Air France than management and investors expected, and the company last week forecast a "notably" lower income this year compared with 2017.
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