Pilot Strikes Cost AFI KLM And LHT

Strike action called by Air France and Lufthansa pilots this autumn has cost the carriers hundreds of millions of dollars.

In releasing their Q3 results yesterday (October 29), Air France-KLM confirmed that 14 days of strikes in September cost the group €330m ($415m) while Lufthansa revealed that industrial action by pilots in its passenger and cargo divisions had cut its Q3 earnings by €170m ($214m).

Despite the loss of earnings, Lufthansa claims that it remains on target to generate €1bn ($1.2bn) in operating profit this year. Air France-KLM, meanwhile, revealed that operating results for its passenger and cargo businesses were down €40m ($50m) and €2m ($2.4m) respectively in Q3 on a like-for-like basis.

The group’s maintenance division, however, posted better results with revenues from third-party services increasing by around five per cent compared with Q3 2013, with profits before tax jumping 13 per cent to €61m ($77m). 

TAGS: Europe
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