Lufthansa expects faster growth in US and Asia than Europe
Lufthansa CEO, Wolfgang Mayrhuber, stated he expects faster growth in the US and Asia than in Europe in coming years (Bloomberg, 19-Jan-2010). Load factors on the carrier’s European services fell 0.8 ppts year-on-year, to 67.9% in 2009, compared to no change on North and South American services (84.5% load factor) and a 0.5 ppt decline on Asian services (82.1%). Mr Mayrhuber added operating in the US is cheaper and more efficient, despite older air traffic technology, and urged the EU to merge its control networks to a single sky programme.
Lufthansa: “We only have to look at Europe to see that growth is elsewhere, with the weighting shifting. We’re flying through heavy weather, forcing Lufthansa to make one change or another [in strategy],” Wolfgang Mayrhuber, CEO. Source: Bloomberg, 19-Jan-2010.