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Lufthansa needs to strengthen cash flow to fund fleet renewal: Supervisory board chairman

1-May-2012 3:30 PM

Lufthansa supervisory board chairman Juergen Weber said Lufthansa's cash flow must be strengthened so the carrier can fund an urgently required renewal of its fleet without creating high debt levels, as reported by Boersen Zeitung. If the savings programme is not implemented as planned, the carrier’s management board and supervisory board agree aircraft orders have to be cancelled, "which I don't want," Mr Weber said. He noted the carrier will not finance any purchases via borrowing. "I won't accept debts in the order of 8-10 billion euros like our competitors," he said.