Lufthansa, pilot union sign deal on pay and pensions

BERLIN (Reuters) - Lufthansa and its main pilots union have signed a wide-ranging agreement on pay, pensions and conditions, which will boost the airline's profit this year and brings an end to a long-running row between the two sides.

The deal will bring Lufthansa's cockpit staff costs down by 5 percent and reduce pension liabilities this year by a high three-digit million euro amount, with a corresponding positive effect on earnings before interest and tax.

Its shares rose by 2.7 percent after the statement.

(Reporting by Victoria Bryan; Editing by Tom Sims)