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€20m lost as Lufthansa pilots extend strike

Thursday, November 24, 2016 - 01:42

Striking pilots at German airline Lufthansa are costing the company around 20 million euros a day, but as Kate King explains the pay-dispute doesn't look like it will be resolved anytime soon.

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Turbulent times at German air carrier Lufthansa as its pilots extend their strike to a third day The latest walk-out has already cost the company around 20 million euros and the long-term damage could be just as costly. (SOUNDBITE) (English) WILSON KING INVESTMENT MANAGEMENT, HEAD OF RESEARCH, RICHARD HUNTER SAYING: "Ultimately depending on the consumer of course, if they are just basing their decision to buy on cost it could be that Lufthansa loses some customers never to be seen again and there is also that attrition while these strikes are going on, that customers drift away to other airlines." This is now the 14th strike since the pay dispute began in early April. and it seems to be a case of who will blink first. Management insists it needs to cut costs in order to compete with lower cost airlines and has refused to budge from its offer of a 2.5 percent increase over six years. That's despite a noticeable knock to consumer confidence (SOUNDBITE) (German) TRAVELLER, BARBARA CLINGAN, SAYING: "I think the gentlemen should consider what they earn, even if it is a great responsibility. I've been flying for years but my patience is running out." (SOUNDBITE) (German) TRAVELLER, ULRIKE ERBERTSAEDER, SAYING: "Well, I am very annoyed, I have to say. No understanding at all. Now we are not frequent flyers, but if we do fly away at times and it's such a chaos, that is very aggravating." The union says its members salaries are lagging behind, as Lufthansa rakes in healthy profits. It's seeking a 3.7% pay rise dating back to 2012. And it seems the pilots are in it for the long-haul, Around 2-thousand flights have been cancelled so far. with concerns the industrial action might intensify heading into Christmas.

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