New labour agreement and long-haul expansion for airberlin
- airberlin has reached a collective labour agreement with the German pilots' union regarding the integration of LTU pilots and new cockpit rules.
- The agreement includes the addition of a third pilot on long-haul routes, starting from May 2011.
- The agreement also covers duty rosters and standby duties, aiming to align working conditions.
- airberlin plans to increase frequencies on select long-haul services, including flights from Berlin Tegel and Dusseldorf to destinations like Bangkok, Dubai, Miami, and New York.
- Shares in airberlin traded down 2.2% following the announcement.
- Aegean Airlines' shares bounced back 2.2% after the European Commission blocked its proposed merger with Olympic Air on competition grounds.
The agreement was initially formed in Dec-2010. Existing operational policies for duty rosters were stipulated into the collective agreement, and a new model for stand-by duties was also agreed for the purpose of aligning the working conditions. In particular, extra long-haul flights will be carried out with a third pilot from May-2011.
airberlin announced plans to increase frequencies on a select number of long-haul services, including services from Berlin Tegel to Bangkok, Dubai, Miami and New York and from Dusseldorf to Bangkok and New York JFK during winter 2011/12.
Shares in airberlin traded down 2.2% on Friday.
Elsewhere in Europe, shares in Aegean Airlines bounced back 2.2%. The European Commission formally blocked a proposed merger with Olympic Air on competition grounds earlier in the week.
Selected European airlines daily share price movements (% change): 28-Jan-2011
