German flag carrier Lufthansa on Friday canceled more than 100 flights following an eight-hour strike by its flight attendants, the company said in a statement posted on its website.
The flight attendants were staying away from work from 5:00 a.m. to 1:00 p.m. local time demanding a five-percent wage increase. Negotiations between their union UFO and the management were unsuccessful.
According to media reports, Lufthansa plans to lay off 3,500 employees and economize EUR 1.5 billion over the next three years to reduce its costs due the financial crunch. It has also plans to reform its subsidiary airline Germanwings and partially move there Lufthansa employees by paying them lower wages.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.