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CORRECTED-Lufthansa, pilots' union sign deal on pay and pensions
October 10, 2017 / 3:15 PM / 2 months ago

CORRECTED-Lufthansa, pilots' union sign deal on pay and pensions

(Corrects second paragraph to read “...15 percent...” instead of “...5 percent...”)

BERLIN, Oct 10 (Reuters) - Lufthansa and its main pilots union have signed a wide-ranging agreement on pay, pensions and conditions, which will boost the airline’s profit this year and brings an end to a long-running row between the two sides.

The deal will bring Lufthansa’s cockpit staff costs down by 15 percent and reduce pension liabilities this year by a high three-digit million euro amount, with a corresponding positive effect on earnings before interest and tax.

Its shares rose by 2.7 percent after the statement. (Reporting by Victoria Bryan; Editing by Tom Sims)

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