German airline giant Lufthansa is facing a two-day pilot strike starting Thursday, Bloomberg News reports.

The strike, which threatens to cancel hundreds of flights, is set to begin on March 12 at 00:01 and last until March 13 at 23:59.

This will affect flights operated by Lufthansa and its cargo companies departing from German airports, according to a statement from the pilots' union Vereinigung Cockpit.

Flights to the Middle East operated by Lufthansa and Lufthansa Cityline are exempt from the strike, according to the union.

The conflict follows a one-day strike in February that led to the cancellation of almost 800 flights, affecting around 100,000 passengers, costing the company around 15 million euros, CEO Carsten Spohr said last week.

Negotiations over pilots' pensions broke down last year. The union is demanding higher pension payments from the company, while Lufthansa believes that the scope for increases is limited.

Lufthansa's share, listed in Frankfurt, rose 4.2 percent during the trading day as oil prices fell, easing concerns about rising fuel prices

Source: Dagens Industri