Lufthansa Begins Critical Week Of Negotiations With Pilot Union: Report

German carrier Deutsche Lufthansa AG DLAKY DLAKF reportedly has entered decisive talks with its pilots' union.

Lufthansa enters decisive talks with its pilots' union as the German airline races to reach an agreement by the end of the week to avert the threat of a strike during the crucial summer travel season, reported Bloomberg.

Last week, Lufthansa presented an offer to the union, which labor officials rejected as "absolutely insufficient."

Lufthansa and the VC pilots' union are meeting on Tuesdays, Wednesdays, and Fridays to resolve a salary and working conditions dispute, mentioned the report.

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If an agreement isn't landed by Friday, the union will have the option of balloting members on strike action.

The leadership is determined to avoid a repeat of a labor dispute with pilots that raged for a decade and resulted in more than a dozen separate strikes, hundreds of delayed flights, and over €500 million in costs until the two sides reached an agreement, stated the report.

Price Action: DLAKY shares closed at $9.98 on Monday.