INSEAD Day 4 - 728x90

Sanad posts record revenue

Growth driven by global demand for services.

Bank of Sharjah profit up 39%

Bank's total assets grow 10% to $14.4 billion.

DIB H1 net profit $1bn

Gross revenue increased 10% year on year

SIB H1 profit up 15.3%

Total operating income rises 20.5 percent.

flydubai Aleppo flights resumed

The flights were resumed after nearly 14 years.

Lufthansa pilots to strike again, escalating wage dispute

An airplane of German airline Lufthansa stands parked at the Franz-Josef-Strauss airport in Munich. (AFP)
  • The pilot union is seeking a 5.5 percent wage increase by the end of the year, automatic compensation for inflation and adjustments on its salary grid
  • Lufthansa has said the entire package sought by Cockpit would raise pilot personnel costs by 40 percent or $900 million

Frankfurt, Germany— Pilots at German airline Lufthansa will strike again this week, their union Cockpit said Tuesday, escalating a wage dispute.

The pilots for passenger flights will walk out from Wednesday 00h01 to Thursday 23h59, while the industrial action for those operating cargo flights will last a day longer to Friday 23h59.

The strike comes just a week after the airline was forced to cancel almost all its flights on Friday due to a pilots’ walk-out, affecting 130,000 passengers.

“Despite announcements to the contrary, Lufthansa has not yet approached us and has not put forward a new offer,” said Cockpit in a statement.

“This is absolutely incomprehensible and leads to a further unnecessary escalation of the situation.”

The pilot union is seeking a 5.5 percent wage increase by the end of the year, automatic compensation for inflation and adjustments on its salary grid.

Lufthansa has said the entire package sought by Cockpit would raise pilot personnel costs by 40 percent or 900 million euros ($900 million).

With inflation soaring, collective salary bargaining is expected to be tense in the coming months across Europe.

German consumer prices rose by 7.9 percent in the year to August, according to data published last week by the federal statistics agency Destatis.