Air France ‘Absurd’ Valuation Lures Buyers Where Many Fear to Go

  • Labor strife, competition fail to deter Roche-Brune, Ibercaja
  • New CEO Janaillac encourages investors after stock’s slump

Even by the cut-throat standards of the aviation industry, Air France-KLM Group has been a dire case: labor fights that have turned violent, cost-cutting efforts blocked by politicians, low-cost carriers aggressively taking over its home market. Yet more investors are starting to buy in.

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