The debate at the Central Works Council meeting on Thursday 23 February concerning the gross compensation of the Air France Executive Committee published in the company financial statements led the financial and Human Resources teams to closely examine this figure at the end of the session, as stated by the EVP Human Resources during the session.
This examination revealed an incorrect budget item in 2016 of an amount of 0.8 million euros that does not concern this section.
This incorrect budget item distorts the comparison, giving rise to higher figures that surprised the staff representatives and undoubtedly a high number of staff who had read the statement.
The exact figure for 2016 is 4 million Euros compared with 3.4 million Euros in 2015, representing a 17.6% increase.
This increase is explained by –
– the increase in variable compensation taking into account the return to positive results in 2015. These variable compensations had decreased in 2014 and 2013;
– changes in the number and composition of the Executive Committee;
– the payment of the balance of paid holiday leave to Executive Committee members who have left the company.
Air France wishes to confirm that:
– the compensation of its senior managers, as in all companies, comprises a significant variable amount related to results, that can increase or decrease in value;
– the global gross compensation of the Executive Committee paid in 2016 is lower than or equal to those paid in 2014 (4 million euros), in 2013 (4.7 million euros) and in 2012 (5.3 million euros).