ETX Capital's Wilson said that Air France-KLM "may be more exposed than others as it is fighting a war on several fronts, not least because there is 'special concern' about France as a destination."
"Firstly terror attacks in Europe are biting into demand and France in particular is bearing the brunt of this. Secondly, in an attempt to compete with low-cost carriers the firm's aggressive restructuring has run into turbulence with unions and strikes are hitting revenues. The next walkout is on August 2nd."
There have also been several terrorist attacks in France on a smaller scale, all serving to heighten societal and political tensions in France as well as hitting the country's tourist industry.
The number of both French and foreign arrivals in Paris last year fell by 0.5 and 1.6 percent respectively, its tourist board said in a data release last week.
Speaking after the attack in Saint-Etienne-du-Rouvray on Tuesday, French President Francois Hollande said that "French people must know that they're under threat, that they're not the only country - Germany is too, as are others - but that their strength depends on their cohesion."