Lufthansa cancels 1,700 flights due to pilots' strike
- Wall Street again marks new highs in post-election run
- Broadcom Ltd. (AVGO) Tops Q4 EPS by 11c
- Restoration Hardware (RH) Tops Q3 EPS by 4c; Guides Well Below the Street
- Unusual 11 Mid-Day Movers 12/8: (COOL) (TLRD) (DRAM) Higher; (SHIP) (OHRP) (MLSS) Lower
- Third-Party Said Interested in PrivateBancorp (PVTB) as CIBC (CM) Deal is Delayed
Planes stand on the tarmac during a pilots strike of German airline Lufthansa at Frankfurt airport, Germany, November 23, 2016. REUTERS/Ralph Orlowski
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
By Maria Sheahan
FRANKFURT (Reuters) - Lufthansa
Last week, the German carrier canceled nearly 2,800 flights during a four-day walkout from Wednesday that affected more than 350,000 passengers, the 14th walkout in a dispute that since early 2014 has cost the carrier hundreds of millions of euros.
Lufthansa has offered to increase the pilots' pay by 4.4 percent in two installments and make a one-off payment worth 1.8 months' pay over a six year period.
Union Vereinigung Cockpit (VC) wants an average annual pay rise of 3.7 percent for 5,400 pilots over a five-year period backdated to 2012.
VC rejected the latest pay offer from Lufthansa late on Friday.
The pilots announced on Sunday plans to strike on short-haul routes on Tuesday and both short- and long-haul flights on Wednesday. Lufthansa said it was cancelling 816 and 890 flights on those days, respectively, affecting a total of around 180,000 passengers.
The carrier has asked a labor court in Munich to issue a temporary injunction to avert the strike, with a ruling likely due later on Monday. Last week, a labor court in Frankfurt rejected a similar request for an injunction.
(Additional reporting by Peter Maushagen in Frankfurt and Jens Hack in Munich, editing by Louise Heavens)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- U.S. Marine pilot dies after ejecting from plane off Japan
- U.S. SEC enforcement chief Ceresney to depart at year-end
- Former U.S. astronaut, Senator John Glenn dies in Ohio at 95
Create E-mail Alert Related CategoriesReuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!