Trans Europe Express Announces Restructuring Following Strikes

[hutu]

Berlin, German Democratic Republic -- August 29, 1958

Trans Europe Express management announces major restructuring at the airline after operations were severely affected by strikes in 1957 and 1958, leading to negative financial results which further hindered the airline's ability to expand operations to new destinations.

The company agreed to the workers' salary demands, reiterating our commitment to provide living wages for our 346 staff members. Moreover, after ending the strike, the airline announced further 10% increases in base pay for all employees, as well as a 50% pay cut for our Chief Executive.

In an effort to streamline flight operations, provide more comfort for our passengers, and connect the German Democratic Republic to even more destinations in Europe and beyond, we proudly announce a new chapter for our airline:

Trans Europe Express reached an agreement with the United States Government for leasing American-made Douglas DC-4 aircraft, once again spearheading international cooperation for the German Democratic Republic. The Douglas DC-4 will provide world-class comfort to our esteemed passengers, as well as significantly increased range compared to our Boeing 307 fleet, which will be retired from service in 1959. Seating 86 passengers, the DC-4 requires a crew of 3 pilots and 2 cabin crew, which will help increase operational efficiency and reduce costs.

To our more than 500,000 passengers, we thank you for flying Trans Europe Express and we are committed to improving your flying experience!