Peak Summer Season Hit by Unsettled Wage Dispute

  • Lufthansa’s Discover Airlines faces a four-day strike by pilots and flight attendants
  • Unions Vereinigung Cockpit and UFO call for the strike from Tuesday night until Friday on all Discover departures from Germany
  • Wage dispute has remained unsettled for years with negotiations stalled
  • Discover Airlines strongly condemns the call for strike action by the two unions
  • Discover recently signed a collective bargaining agreement with Verdi, another German union representing cockpit and cabin employees
  • UFO’s leader Joachim Vazquez Buerger says conditions outlined in the agreement are ‘unacceptable’
  • Airline didn’t specify how many flights will be affected but advises customers to regularly check their status

Deutsche Lufthansa is facing a four-day strike by pilots and flight attendants at its leisure unit, Discover Airlines, during the peak summer season. The unions Vereinigung Cockpit and UFO have called for the strike from Tuesday night until Friday on all Discover departures from Germany. The wage dispute has remained unsettled for years with negotiations between the union and Discover stalling. A spokesperson for Discover Airlines strongly condemns the call for strike action by the two unions, stating that they have recently concluded a collective agreement for their employees which guarantees salary increases of up to 38% in the cabin and around 16% in the cockpit. However, UFO’s leader Joachim Vazquez Buerger said these conditions are ‘unacceptable’. The airline hasn’t specified how many flights will be affected but advises customers to regularly check their status. Discover Airlines offers flights from Frankfurt and Munich to numerous holiday destinations and operates a fleet of 27 aircraft, employing around 2,000 people.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the strike by pilots and flight attendants at Discover Airlines, mentions the unions involved, and explains the reasons for the strike (wage dispute). It also includes statements from both the airline and the union leaders. However, it could provide more details on how many flights will be affected and the exact number of employees.
Noise Level: 3
Noise Justification: The article provides relevant information about the strike by pilots and flight attendants at Discover Airlines, but lacks in-depth analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or solutions.
Public Companies: Deutsche Lufthansa (LHA)
Private Companies: Discover Airlines
Key People: Joachim Vazquez Buerger (UFO leader)

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Financial Relevance: Yes
Financial Markets Impacted: Discover Airlines’ stock price and the German airline industry
Financial Rating Justification: The article discusses a strike by pilots and flight attendants at Discover Airlines, which is part of the Lufthansa group, impacting their operations during the peak summer season. This will likely affect the company’s financial performance and may cause fluctuations in its stock price as well as potentially affecting other airlines in the German airline industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.
Move Size: No market move size mentioned.
Sector: All
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com