FRANKFURT (REUTERS) - Pilots at Lufthansa will go on strike on Wednesday, increasing pressure in a long-running pay dispute with the airline's management, their union said on Monday.

The strike will run for 24 hours from midnight and affect short-haul and long-haul flights, Vereinigung Cockpit (VC) said in a statement.

The pilots are striking after pay talks between management and the union broke down earlier this month. The two sides are trying to agree contracts dating back to 2012 and the union is calling for a pay increase of an average 3.7 per cent a year over a five-year period.

Lufthansa has offered 2.5 per cent increase, which the pilots' union has said equates to a virtual pay freeze.