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).