Lufthansa to scale back flight plan growth - CEO tells paper
Reuters
Published Dec 18, 2023 19:12
BERLIN (Reuters) - Germany's flagship airline Lufthansa will not be able to expand its flight plan as much as planned as it struggles to crank up capacity amid unplanned engine overhauls and delivery delays, CEO Carsten Spohr told a German paper.
Some 20 of Lufthansa's 450 Airbus A320 will be grounded in 2024 due to engine overhauls, Spohr told the Sueddeutsche Zeitung.
"We will slightly adjust the flight plan for 2024 and slightly reduce the originally planned growth," he said.
Lufthansa had said at the start of November the offer should reach 91% of pre-pandemic levels in the final quarter, and 95% next year.
Spohr said it would take several years for supply chains to work as before the coronavirus pandemic and Lufthansa to be able to put its ordered airplanes to use.
The CEO said Lufthansa was investing more than ever, including more than 3 billion euros each year just for new airplanes, in a bid to crank up capacity.
"So far, 200 planes have been ordered and we are currently negotiating a further big contract for 80 short-haul airplanes," he said.
Spohr said he was against the German government's plans to introduce a tax on kerosene fuel for domestic flights, saying Lufthansa was already dealing with too many new charges which was dampening air travel and putting it at a competitive disadvantage.
Air travel was at just 80% of pre-pandemic levels, whereas it was as high or even higher than them in other European countries like France, Spain and Italy, he said.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.