Monday, 17 September 2012

Lufthansa To Present Low-Cost Airline Plan

Lufthansa management will present a strategy update to the supervisory board on Wednesday including plans for a new European low-cost airline, German business weekly WirtschaftsWoche said in its Monday edition.
A spokesman for Lufthansa declined to comment on the supervisory board meeting, adding that no strategy decisions are to be expected on Wednesday.
Separately, WirtschaftsWoche, citing unnamed sources, said strikes could have cost the German airline EUR€100 million (USD$131 million) if the lost revenue from passengers who booked with rival airlines as a result of the actions was factored in.
Lufthansa said it was too early to put a final figure on the cost of industrial action and reiterated the strikes were said to have resulted in lost revenue in the double-digit million euro range.
Around 1,737 flights were cancelled during the strikes, with 187,614 passengers impacted, employee magazine Lufthanseat said in its most recent edition. Another 165,598 passengers were hit by delays, the employee publication further said.

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