More than 800 Lufthansa flights grounded as pilots resume strike
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
Planes stand on the tarmac during a pilots strike of German airline Lufthansa at Frankfurt airport, Germany, November 23, 2016. REUTERS/Ralph Orlowski/File Photo
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
FRANKFURT (Reuters) - German airline Lufthansa
The walkout affects short-haul flights departing across Germany on Tuesday, forcing Lufthansa to cancel 816 out of around 3,000 planned flights. The pilots have also announced plans to strike on short- and long-haul flights on Wednesday.
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. 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 and has also rebuffed a bid for mediation.
"For mediation you need an offer that can be the basis of negotiations," VC board member Alexander Gerhard-Madjidi told Deutschlandfunk radio on Tuesday. "Lufthansa has not made such an offer."
He said including demands for concessions in return for a wage increase, Lufthansa's offer worked out to a 15 percent pay cut.
Last week, Lufthansa had to cancel nearly 2,800 flights during a four-day walkout from Wednesday that affected more than 350,000 passengers, the 14th walkout in the dispute.
(Reporting by Maria Sheahan; Editing by Michael Perry)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- CIA says Russia intervened to help Trump win White House
- Colombian president receives Nobel Prize for peace accord
- Turkish karate group seeks asylum in Germany
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!