Rejection of a deal earlier this week, offered by management, led to the resignation on Friday of Air France-KLM Group CEO Jean-Marc Janaillac.
Air France had offered workers a salary increase of 2 percent in 2018 and a further 5 percent over the following three years, but French unions, which have demanded 5.1 percent this year, have complained management is not serious about talks.
Jean-Marc Janaillac has resigned his position as CEO and chairman of Air France-KLM.
At Air France - which is part of an airline alliance with Dutch carrier KLM - the labor dispute intensified on Friday when staff rejected a pay deal worth seven percent over four years.
Air France is fell 10% on the stock market Monday after announcing Friday losses of 269 million euros during the first quarter of 2018.
"Be responsible. The survival of Air France is in the balance", he added.
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.More news: Lebanon votes in first election in a decade
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"I will not explain to the French that we will.absorb the losses of Air France while Air France does not make the necessary competitive efforts to be at the same level as its major European competitor".
Bruno Le Maire's notice that Air France could "vanish" comes as staff starts another round of new activity over a compensation question.
The airline said it anticipated operating 75 percent of medium-haul flights and 95 percent of long-haul services to and from Paris Charles de Gaulle airport, and 82 percent of short-haul flights.
He urged striking pilots, crew and ground staff to be "responsible" and said the survival of Air France "is at stake". Janaillac's resignation launched the decline of the stock. The industrial dispute come as separate strikes over Mr Macron's labour reforms are hitting France's national railways.
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.
Unions want a 5.1% pay rise this year, arguing that their wages have been frozen since 2011 amid restructuring and noting that the company's profits are up.