Lufthansa cabin crews back contract ending their strike campaign

Lufthansa flight attendants approved a 3-year contract to end one of the airline’s long-running disputes over pay and pensions that have led to strikes. The accord with the cabin-crew union UFO will lead to savings in the mid-double-digit millions of euros in labour costs and reduce pension commitments by a high triple-digit million-euro amount, Lufthansa said Wednesday. The carrier expects the lower costs to help boost earnings before interest and taxes this year. UFO and the Vereinigung Cockpit held a series of strikes in the past 2 years as disputes over pay, benefits and retirement were exacerbated by concerns about Lufthansa’s strategy of converting its Eurowings unit into a low-cost division. The cabin-crew deal was originally reached in July. Lufthansa’s talks with the pilots ended without result Aug 12. <br/>
Bloomberg
http://www.bloomberg.com/news/articles/2016-08-24/lufthansa-seals-wage-deal-with-cabin-crew-union-ending-strikes
8/24/16
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