Deutsche Lufthansa AG (LHA.DE)
- Reuters
Worst flight chaos over, Lufthansa board member tells Funke media
The worst is over for German airline Lufthansa after staff shortages caused flight chaos over the summer, but levels of sick leave remain challenging, board member Christina Foerster told newspapers in the Funke Media group. "Nevertheless, this summer we are dealing with a level of sick leave that is not easy to offset," said Foerster, adding the situation remained challenging. Most flight cancellations are affecting domestic routes where there are alternatives, she said.
- Reuters
Lufthansa ground staff agree pay deal after strike
FRANKFURT (Reuters) -Ground staff of Germany's Lufthansa and management have reached a pay deal after a third round of negotiations, averting further walkouts during the busy summer travel season, labour union Verdi and the carrier said late on Thursday. The pay dispute at Lufthansa resulted in a strike last week that caused the cancellation of more than 1,000 flights. After two years during which the global COVID-19 pandemic held back wage increases in the aviation sector and inflation now hovering around 8%, the deal announced late on Wednesday will mean wage increases in real terms, Verdi said.
- Reuters
UPDATE 2-European shares edge higher on earnings lift; growth fears persist
European shares eked out gains on Thursday as some strong quarterly results lent support, while Britain's FTSE 100 underperformed peers after the UK central bank lifted interest rates by the most since 1995. The Bank of England raised interest rates by 50 basis points, the most in 27 years, to 1.75% despite warning that a long recession is on its way, as it rushed to smother soaring inflation. The European Central Bank raised rates by 50 basis points last month and guided for more hikes ahead.
