Business

Lufthansa strike costs company 'at least €10m euros a day'

Lufthansa queue Image copyright AP

German airline Lufthansa says the current strike is costing the company at least €10m (£7m) a day.

A spokesman for the airline said a concrete figure would only become clear in the coming weeks, but that the losses were "clearly in the double-digit millions of euros".

More than 11,000 passengers have been hit by the cabin crew action.

They are in dispute with management over early retirement benefits and pensions.

"The concrete damage will only be clear in the coming weeks when we know how many passengers claimed refunds, how many were rebooked, and how many passengers we accommodated at hotels," a spokesman told reporters at Frankfurt airport, before adding that the losses would "clearly be in the double-digit millions of euros".

Lufthansa's management has described the action has "unprecedented" and is meeting to discuss the consequences. A statement is expected later.

It is the third day of industrial action and stoppages could continue until Friday.

The company wants to bring down pension costs as part of a savings drive to allow it to compete more effectively with low-cost rivals and Gulf carriers.

But it has so far failed to reach an agreement with the union.

Lufthansa's reluctance to meet its demands is "not comprehensible", given that the company just raised its full year profit forecast to €1.95bn, the union has said.

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