lufthansa making more cuts
Lufthansa has announced a recruitment freeze, and further capacity cuts as it stuggles to reach economic targets.
The carrier blames a decline in business travel, falling revenues, and the high price of oil, for its current economic state.
Lufthansa chairman and chief executive, Jürgen Weber also warned that the threat of war would further cripple the industry. He said: “A war in Iraq would cause our passenger volume – and thus also our revenues – to shrink even further. That will make tough measures, which can be rapidly implemented, necessary.”
In a statement Lufthansa said: “Despite slightly higher numbers of passengers, revenues in January 2003 were below those of the same month last year.”
The carrier is taking another ten aircraft out of service, resulting in a total of 31 aircraft of Lufthansa AG and 15 others operated by Lufthansa CityLine and the regional partners, being taken out of service in the next few weeks.
Read our previous stories:
07-Oct-2002 Lufthansa cuts commissions for UK, but not Germany
25-Jul-2002 Lufthansa cuts UK-Germany fares by up to 30 per cent
16-May-2002 Lufthansa optimistic despite Q1 losses almost doubling
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