Even thought CO would like to think their business class product (Business First) = first on other airlines, that is not the case.

I just looked at CO webiste- it is very clear:

80K Bus Class from North America to Europe (except Delta)
90K Bus Class from North America to Europe (on Delta)
100k BizFirst/First from North America to Europe

So if you used 100k and book Air France you should be going in 1st IF they offer 3 classes on that flight.

I would call back and complain- they should either give you 1st or give you back 20K miles...