No-frills airline Easyjet has reported a 21% rise in annual pre-tax profits, due to increased capacity growth.
Walkout adds weight to the eighth strike action taken by pilots in dispute over retirement benefits.
Virgin Australia will buy out loss-making budget carrier Tiger Airways Australia for A$1.
The struggling French flag carrier was in dispute with pilots over plans to expand its budget subsidiary Transavia.
Eight-hour strike on Wednesday will be third strike by the German airline's pilots within two weeks.
The reduction in staff numbers represents around 30% of its workforce of 20,000.
Australia's national flag carrier Qantas has reported a net loss of 2.8B Australian dollars for the year to June.
Trade body predicts airlines will make $18B in profit in 2014, lower than its $18.7B March forecast.
One of the biggest stoppages in the German airline's history may ground as many as 425,000 passengers.
The airline said it faced tough competition in both international and domestic operations.
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