Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

Lufthansa, workers union seek arbitration as wage dispute negotiations fail

Published 14/03/2024, 18:40
© Reuters. FILE PHOTO: Lufthansa planes stand parked as Frankfurt airport is closed to passengers with planned departures due to a strike organised by Verdi union, in Frankfurt, Germany, March 7, 2024. REUTERS/Kai Pfaffenbach/File Photo
LHAG
-

BERLIN (Reuters) -Lufthansa on Thursday said it agreed with labour union Verdi to seek arbitration of the collective wage dispute after the latest round of negotiations over pay increases for the airline's ground staff failed to reach results.

"The arbitration process should be concluded as quickly as possible and there should be a peace obligation during the arbitration," the company said in a statement, meaning the union would not call for further strikes for the time being.

Verdi said Lufthansa must promise to reach a result in the arbitration by March 30th and then recognise it, adding that the union will hold a strike vote among employees from the beginning of next week.

The union has been demanding 12.5% pay increase for approximately 25,000 employees for twelve months, in addition to an inflation compensation bonus of 3,000 euros.

Ground staff walked off the job at major airports twice last month, which Lufthansa said had affected 100,000 passengers.

Pay negotiations for almost 20,000 flight attendants at the main brand and at the regional subsidiary Cityline are still ongoing.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.