LTU owner Hans Rudolf Woehrl does not see much likelihood that the troubled leisure airline will achieve a breakeven operating result this year after he was unable to reach agreement with the carrier's unions on wage cuts he proposed. He is seeking to reduce costs by €45 million ($57.3 million), including €15 million in salary cuts (ATWOnline, June 12). According to Die Welt, Woehrl has not ruled out layoffs as a way to lower costs. Insiders believe that with 2,800 employees, LTU ...

Subscribe to Access this Entire Article

"Other News - 06/16/2006" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.