Cargolux Airlines International S.A and trade unions OGB-L and LCGB today announced that they have formally concluded and signed an extension agreement of the Collective Work Agreement (CWA).

he extension of the terms and conditions of the above CWA applies retroactively from 1 January, 2011 and expires on 31 December of the present year. In addition, the parties have signed a second agreement on measures that are required to support and strengthen a comprehensive company-wide action plan after a difficult year 2011 and in the face of challenging conditions in the air cargo markets.

It has been agreed to establish a Follow-up Committee that will monitor the situation of the company and meet on a regular basis in order to review and discuss additional measures to be implemented in the event of a further deterioration of the economic environment in 2012.