Germany's Lufthansa to cut costs, hire less admin staff after strikes [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
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Source: Yahoo! Finance
At the presentation of the final quarterly figures for this year in Frankfurt, chief executive Carsten Spohr said that savings had to be made in all areas that did not directly affect customers. In principle, the company had resolved to manage with 20% fewer managers and employees in the administrative areas compared to 2019. The high strike costs would also have to be recouped through increased productivity, Spohr said. Tickets for the group companies such as Swiss, Austrian, Eurowings and Lufthansa will remain scarce and expensive this summer. However, he does not foresee any further price increases, but rather a levelling off of prices, Spohr said. "It will be another very strong summer of travel." Group-wide, Spohr expects flight capacity for 2024 to be only 92% of the level seen before the Covid-19 crisis. However, bookings for the summer half-year are 16% higher than a year ago, which promises "highly profitable growth." It will certainly be another "very, very good yea
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