Lufthansa Fails to Secure Pilots Deal, Adding to Pension Concern
- Union says talks on pay and benefits for air crew have ended
- S&P warns that German carrier needs to cuts its liabilities
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Deutsche Lufthansa AG’s pilot union said negotiations over pay, pensions and promotion have failed, adding to concern about the carrier’s debt and liabilities after S&P Global Ratings cited pension costs as a prime reason for putting it on watch for possible credit downgrade.
Talks that began early this year on contracts and career paths for flight crew at the main Lufthansa passenger brand, Lufthansa Cargo and low-cost arm Germanwings ended without a deal, the Vereinigung Cockpit union said Friday.