1 12, 2015

Lufthansa Reaches Pay, Retirement Deal With Ground-Crew Union

2015-12-01T19:40:54-08:00December 1st, 2015|Categories: Retirement|Tags: |

Deutsche Lufthansa AG reached a pay and retirement agreement with its ground crew, technical and cargo workers, the Verdi union confirmed in a statement, even as the airline continues to negotiate with restive cabin workers. The deal between Lufthansa and Verdi affects 33,000 ground employees and grants those who worked between April and December this year a lump sum payout of 2,250 euros ($2,383), the union said in an emailed statement. The employees will also receive pay raises of [...]

5 05, 2015

Lufthansa pension deficit balloons amid low interest rates

2015-05-05T23:47:24-07:00May 5th, 2015|Categories: Pension Funding|Tags: , |

Lufthansa on Tuesday warned of an “urgent” need to overhaul the way the German airline group provides retirement benefits to employees as the low interest rate environment caused its pension deficit to soar. The deficit in Lufthansa’s defined benefit pension scheme reached €10.2bn on March 31, up 41 per cent from the end of 2014, according to the group’s first-quarter earnings report. The airline group is trying to move on after one of its passenger jets crashed last month, [...]

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