The pilots’ union of KLM, the Dutch arm of Air France, on Saturday declined to accept a wage freeze through to 2025, potentially endangering efforts to secure the company’s future amid the coronavirus pandemic.
It said it had already agreed to a freeze lasting until March 2022, and changing the agreement at short notice was not feasible.
Other unions representing ground and cabin crews have agreed to the prolonged wage freeze, which is set to last as long as the airline receives government support.
On Friday the government said it would withhold payments from the 3.4 billon euro bailout package KLM is due to receive unless the company adjusted its restructuring plan to include the freezes.
Air France-KLM on Friday reported 67% drop in third-quarter revenue to 2.52 billion euros, underlining the airline’s dire financial condition as a new COVID-19 surge poses further threats to an industry already crippled by the epidemic and a collapse in long-haul travel.
Air France-KLM has 12.4 billion euros in liquidity, thanks largely to a French and Dutch government-backed bailout, a cash cushion comparable to that of European peers Lufthansa and IAG.
Norway’s King Harald has died at the age of 89 after more than 35 years on the throne, the Royal Palace has said.
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The European Commission has unveiled an ambitious package of tax reforms aimed at simplifying tax rules across the European Union, reducing compliance burdens for businesses and strength...
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LEGO has reported another strong financial performance, with first-half revenue rising 21% to a record DKK 41.9 billion, equivalent to around $6.54 billion.
The Danish toy group said ...
Samsung has been ordered to pay Swatch Group $11.6 million after London’s High Court found that digital watch faces available through its app store infringed trademarks belonging to the ...
Artificial intelligence has already transformed industries such as finance and education, but one of its most important tests may come in medicine: discovering new drugs.
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Malta’s new pay transparency regulations, which came into effect on the 5th of June, aim to strengthen fairness and equality in the workplace, but employers are warning that the rushed i...
The autonomous bus project in Gozo commenced its public testing phase after the completion of the commissioning phase, marking another important milestone in the rollout of this innovati...
By Joseph Bugeja, Chairman of ATTO
Malta’s logistics operators and consumers are already experiencing the economic impact of the European Union’s Emissions Trading System (ETS). The r...
President Donald Trump announced late Saturday that he had called off planned U.S. strikes on Iran, saying renewed negotiations had raised hopes of easing the conflict and reopening ship...
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At least 32 people have been killed and more than 700 injured after two powerful earthquakes — measuring 7.2 and 7.5 — struck central Venezuela seconds apart, causing widespread destruct...
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Ukraine wants peace but will not just give in to Russia at any price, President Volodymyr Zelenskiy said on Monday in a defiant speech marking Independence Day celebrations.
British...
Russia is open to listening to new proposals on how to reach a settlement on the Ukraine conflict, a senior Russian diplomat said, but any proposals should reflect the "realities on the...
