Lufthansa will hold its ground in short-haul price war: CEO By Reuters


FRANKFURT (Reuters) – German carrier Lufthansa (DE:) will continue to fight for market share in the hotly contested market for short-haul flights, where it is determined to compete with budget airlines such as Ryanair (L:), its chief executive said.

“We will not be chased away from our home market by those that have been used to come, see and conquer,” Lufthansa Chief Executive Carsten Spohr told journalists late on Monday. “We have the financial strength to counteract.”

Spohr also said that Lufthansa was well positioned for keeping up with the global consolidation in the airline industry, in which only 12 global carriers would exist in the future and Lufthansa wanted play an active role.

Lufthansa in late July blamed price competition on short-haul routes and rising fuel and maintenance for a 25% drop in second-quarter adjusted earnings before interest and tax (EBIT).

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.