Lufthansa to launch new cost-reduction plan in early 2012

Lufthansa CEO Christoph Franz, in the carrier's staff newsletter "Lufthanseat", stated the carrier will launch a new cost-reduction plan in early 2012. As reported by dpa-AFX, Mr Franz noted that "in the new and constantly changing environment in which we operate, it takes an enormous effort simply to aim to grow with the market". He added: "We will have a positive operating result this year, but one that is by far not big enough to safeguard our company and our jobs in the future. That is why we need a significantly higher operating margin in the medium term." Details of the plan will be made public in 1Q2012.