Tuesday, December 13, 2016

Lufthansa pilot strikes to cost $106 million in 4Q

The latest round of pilot strikes by the Vereinigung Cockpit (VC) union will affect Lufthansa Group earnings by €100 million ($106 million) in the fourth quarter, the company said in a statement.

However, despite the strikes, Lufthansa said it transported 7.6 million passengers in November, up 5.9% compared to the previous year. ASKs were up 9.3%, sales were up 10.1% and load factor increased 0.5% to 75.8%.

Group subsidiaries Austrian Airlines and Swiss International Air Lines experienced passenger growth of 10.9% and 4.3%, respectively, for November.

In November, VC called members to go on strike for six days, forcing Lufthansa to cancel 4,500 flights, affecting more than half a million passengers.

On Dec. 9, VC announced it is analyzing the Group’s latest offer and will restart negotiations.

There are no strikes planned during the negotiation period. 

(Kurt Hofmann - ATWOnline News)

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