German Lufthansa estimates cost of strikes at 250 million euros
March 20, 2024
Lufthansa, Germany’s main airline, estimated that the industrial action carried out by its employees this year cost the company 250 million euros ($272 million).
Chief Financial Officer Remco Steenbergen shared the number in an internal memo on Wednesday, saying the impact of the strikes lasted longer than the strikes themselves.
The figure of 250 million euros was more than double the estimated cost that Steenbergen presented when presenting the company’s balance sheet at the beginning of March.
Long-term impacts of strikes
In the internal memo, the CFO cited problems in organizing crew rosters, flight scheduling and general customer uncertainty.
One of the impacts of the various strikes was having to cancel the normally profitable connection between Lufthansa’s main hub in Frankfurt and San Francisco for a week.
Steenbergen said customers were reluctant to book with Lufthansa and, when they did, avoided Frankfurt and Munich airports, which were hardest hit by the strikes. The company’s cargo services were impacted.
Source: DW
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