FRANKFURT (dpa-AFX) - German national carrier Lufthansa is cutting costs
after labour strikes in the first quarter.

When presenting its final quarterly figures in Frankfurt on Tuesday,
the MDax-listed company announced that its core brand Lufthansa
intends to reduce operating costs, stop new projects and review
administrative hiring.

Group-wide, chief executive Carsten Spohr expects flight capacity for
2024 to be only 92% of the level seen before the Covid-19 crisis.

However, bookings for the summer half-year are 16% higher than a year
ago.

Spohr had already slashed his profit forecast for 2024 in mid-April
due to the impact of the strike.

The manager now only expects an adjusted earnings before interest and
taxes (EBIT) of around ?2.2 billion ($2.35 billion), half a billion
less than originally targeted.


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