German airline may be further increasing its cost cutting
Building on the €900 million in cost cuts previously announced, Lufthansa says it has now identified more than €1 billion ($1.3 billion) in potential cutbacks in its passenger business over three years. Kay Kratky, the airline’s executive for passenger services, revealed the new figure in the company’s magazine, which is being read as a sign that the German carrier may be increasing its cost-cutting plans still further. These cost cuts do not include Lufthansa’s subsidiaries Swiss or Austrian Airlines.
However, a Lufthansa spokesman said the airline would stick to its €900 million target. A billion euros is a “maximum target”, he added.
[pictured: Boeing 747-8; photo by Rolf Bewersdorf, courtesy Lufthansa]