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Lufthansa, German union agree 500 mn euro cost-cutting deal

(ANSA-AFP) - FRANKFURT AM MAIN, 25 GIU - Lufthansa and German cabin crew union UFO said they clinched a deal Wednesday that would result in 500 million euros ($563 million) in savings for the stricken airline, ahead of a crucial vote on the group's government-backed bailout. The agreement, which still needs to be approved by UFO members, includes pay freezes, reduced flight hours, early retirement packages and unpaid leave for Lufthansa flight attendants to help Lufthansa weather the coronavirus-induced crisis plaguing the air industry. "We want to avoid forced redundancies," said Michael Niggemann, Lufthansa's human resources chief. He said the cabin crew agreement "sent an important signal" less than 12 hours before an extraordinary general meeting at which shareholders will be asked to vote on a nine-billion-euro rescue plan for Lufthansa. (ANSA-AFP).