Investors shrugged off Lufthansa's commentary that while Economy class demand has been stabilising over the past few months, premium travel demand continues to decline at a rapid pace. The carrier confirmed plans to remove a further seven aircraft (for a total of 25 aircraft) from service in the remainder of 2009, with plans to remove five aircraft from its European fleet next month and two long-haul routes in Sep-2009.
British Airways, meanwhile, stated 6,940 staff (or approximately 17% of the carrier’s workforce) have volunteered for unpaid leave (4,000 staff), part time work (1,400) or unpaid work for a period of one to four weeks (800) as at 24-Jun-09, potentially saving the carrier as much as GBP10 million.
Europe selected airlines daily share price movements (% change): 25-Jun-09
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