Air France-KLM boss Jean-Marc Janaillac announced his resignation on Friday after staff rejected a pay deal aimed at ending weeks of strikes. "I accept the consequences of this vote and will tender my resignation to the boards of Air France and Air France-KLM in coming days," said Janaillac after 55.44 percent of Air France workers voted against accepting a pay rise of seven percent over four years. Unions said the increase was too little after years of restructuring during which pay was frozen, and demanded a 5.1 percent raise this year instead. Staff and management at the carrier have been locked in a dispute over pay since February. Janaillac, who had staked his future at the company on winning the vote, deplored Fridays decision as a "huge waste". "Air France was on the road to success. I regret that that dynamic was not understood (by staff)," he said. “I hope that my departure will spark a more acute collective awareness,” he added. The vote came as workers began a 13th day of intermittent strikes Friday, prompting the cancellation of a quarter of flights on average. Air France-KLM earlier on Friday reined in its 2018 profit and growth expectations, partly due to the effects of the strikes, and said it wasn’t able to take advantage of a good market environment for European carriers. Air France needs to cut costs to keep up with leaner rivals in Europe. Dutch sister company KLM, which has cut costs, saw its profits rise in the first quarter, contrasting sharply with losses at Air France. Flag-carrying rivals British Airways and Lufthansa have already undergone painful cost-cutting in recent years as they battled to compete with the rise of low-cost carriers in Europe and new competition from Gulf carriers. Air France has lagged behind, with unions hampering efforts. In a high-stakes move, Janaillac said before the vote that it would be hard for him to stay in the role if the unions pushed back against the salary hike offer. He was backed by the French government, Air France-KLM’s top shareholder, which has said the dispute is damaging the company. There was no immediate reaction by the French presidency or finance ministry. Janaillac was appointed CEO of Air France-KLM in June 2016 after his predecessor failed to reform the airline in the face of union resistance. Liberum analyst Gerald Khoo said ahead of the vote result that a rejection of the offer would suggest that Air France was incapable of being reformed. “Losing two consecutive CEOs who have taken significantly different approaches to the unions would imply the business is unmanageable,” Khoo said.