Bank of America reaffirmed a "sell" rating on shares of Air France-KLM in a research note on Monday, February 12th.
He also said that the French government, which owns 14.3% of the Air France-KLM holding company, would not provide the carrier with a bailout, according to BFMTV.
Air France-KLM's board is set to announce an "interim governance solution" on May 15 following Janaillac's departure.
On Monday, the company's shares went into tailspin on the Paris stock exchange on Monday, falling by 13 percent after the French finance minister's statements, and following the resignation of the company's CEO on Friday.
The airline said 99% of its long-haul flights would operate out of Charles de Gaulle, along with 80% of medium-haul flights from the same airport.
"The important issue is right now that the company will disappear if it does not take necessary steps to be more competitive", Bruno Le Maire told French news channel BFM, warning of the impact of more strikes.
Eight still trapped underground at Sibanye mine following seismic event
Earlier this year, about 1,000 miners were trapped at another Sibanye-Stillwater gold mine for almost a day after a power failure. The National Union of Mineworkers said in an announcement later in the evening that eight miners were still missing.
Over the first quarter of 2018, the company posted €269 million in losses, up from €33 million during the same period past year.
Strikes over the pay dispute, due to resume on May 7 and May 8, have cost the company 300 million euros (£265.5 million) so far. Delta Airlines and China Eastern both hold 9 percent of Air France-KLM.
Back in 2015, protesters ripped the shirts off Air France executives after the company revealed plans to cut thousands of jobs.
Some worker representatives hit back at Le Maire on Sunday, after he called their demands unjustified.
Travellers should expect last minute delays and cancellations, Air France said, adding it will update its flight schedule for Tuesday later today.