By Daniel Hunter

Air France has said last month's pilots' strike will cost the business around Pilots €500m (£393m).

The airline's pilots held a two-week strike over its plans to shelf plans to expand its Transavia subsidiary.

Finance director Pierre-Francois Riolacci expects to lose out on an immediate €320-350m, with even more in future business. Shares prices fell by 2%, falling to its lowest point in a year.

Air France has already cut its profit forecast for 2014 and its bookings for the next three months are down after a 16% drop in passenger numbers during September.

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