German Airline Lufthansa's main flight crew union to strike on Friday

On Thursday, German Airlines, Deutsche Lufthansa's main flight crew union said a week-long strike would begin on Friday following the failed negotiation talks over pension issues with the German carrier management.

According to Reuters, regarding the retirement benefits and pensions issues with Deutsche Lufthansa Airlines' management, the union representing the German airlines' flight crew, UFO said on a statement on Thursday, "Friday will be the first day of the week of strikes,". However, the Union added, it would not strike before 1100 GMT (0700 EDT) and would give more information on Friday morning.

The main flight crew union gave the German Airlines a deadline of 1600 GMT on Thursday to come up with a good deal regarding the airlines company's retirement system for flight crews. However, the union confirmed on Thursday the failed last attempt negotiation of the German airline management, the WSJ reported. 

UFO union had been fighting to secure the existing transition payments for the 19,000 flight crews and staffs of the German airline company once an early retirement was decided by an employee, the CNBC wrote. Lufthansa plans to cut cost in order to compete better with rivaled European budget airlines and Persian Gulf carriers.

The Cologne-based airlines lost a 130 million euro ($141 mln) hit to profits from strikes so far this year as the UFO union has not yet revealed any details of the strike until Friday. The flight service could not yet continue on its revised flight schedule. "With only a few hours between any strike announcement and employees stopping work, the effect on passengers is likely to be significant because Lufthansa has no chance to draw up alternative plans," it said. 

Other Lufthansa Group airlines subsidiaries such as Swiss, Austrian Airlines, Germanwings, Eurowings, and Brussels Airlines are exception from the effects of the strike.