Munich airport said that a strike by public sector union Verdi on Thursday and Friday has prompted airlines to cancel about 80% of flights there. Germany's second-largest hub said in a statement on its website that there was a risk that more flights could be cancelled and that passengers planning to travel through Munich should contact their airlines.

A two-day strike by workers at Munich Airport, Germany’s second-biggest, has started. The airport operator said Thursday that airlines had canceled about 80% of their flights to and from Munich and further cancelations were not ruled out.

A two-day strike by airport workers, called by the verdi trade union in a public sector wage dispute, has begun at Munich Airport. Airlines have cancelled 80% of scheduled flights for Thursday and Friday,

Shares of Munich Re climbed on Wednesday after the German reinsurer stuck to its outlook, despite announcing hefty expected claims from California wildfires.

Munich Re estimates that devastating wildfires that struck southern California in January will result in $1.26 billion in claims for the company, it said as it reported fourth-quarter results.