The trade union representing Lufthansa pilots has agreed to a 45% pay cut, to ensure job security.
The pay-cut will affect a significant number of the 10,000 pilots flying for the Lufthansa Group.
The pay cuts will amount to €350 million ($383 million USD) which the union hopes will make a significant contribution to Lufthansa’s survival.
“The pilots of Lufthansa…are committed to their responsibility. Therefore, in addition to a short-term additional reduction in short-time work benefits, we have offered the Group Management Board a significant reduction in wage costs until June 30, 2022. For the individual pilot, this means a salary that is up to 45% lower than in previous years”Markus Wahl, President, Vereinigung Cockpit
The union has asked that in return Lufthansa leadership remains “committed” to their employees and that they work through the crisis together, according to a press release.
The pay-cut will affect employees from Lufthansa, Lufthansa Cargo, Lufthansa Aviation Training and low-cost subsidiary Germanwings.
The union also noted that Lufthansa pilots had previously agreed to a 30% pay-cut in 1992, to help the airline through a financial crisis.
“We have always said that, as top-level employees, we are committed to our special responsibility, in good times and in bad, even if this means painful cuts. Here is the proof. We hope that together with the Lufthansa management we can bring the company back to its old strength. It is important that the jobs are preserved and that protection”Markus Wahl, President, Vereinigung Cockpit
SamChui.com has contacted Lufthansa for comment.