3-Nov-2016 2:58 PM

Deutsche Lufthansa CEO: Prices remain under strong competitive pressure on transatlantic routes

Deutsche Lufthansa AG CEO and chairman of the Executive Board Carsten Spohr stated (02-Nov-2016) for the period between Jan/Sep-2016, the earning trends reflect substantial declines in unit revenues and further improved unit costs. Constant currency unit revenues declined 5.8% in the period. Mr Spohr said prices remain under strong competitive pressure on transatlantic routes, in particular to and from South America. In the Asia business, the increase in individual bookings did not yet fully offset the substantial decline in group bookings. In the European hub traffic, by contrast, revenues remained relatively stable. The pressure on prices eased somewhat in the traditionally strong month of Sep-2016, thanks in particular to a good short-term booking development of corporate customers. Moreover, Lufthansa slowed its capacity growth and successfully intensified promoting its Premium Economy product. [more - original PR]

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