German airline Lufthansa cuts costs post-strikes, plans 20% reduction in admin staff, targets €2.2B adjusted EBIT.
German flagship airline Lufthansa is cutting costs post-labour strikes in Q1, with measures including fewer staff hires in admin and freezing projects. CEO Carsten Spohr aims for a 20% reduction in managers and employees in admin areas compared to 2019. Despite a €849M Q1 loss, bookings for the summer half-year are up 16% vs. last year, promising "highly profitable growth." Lufthansa targets an adjusted EBIT of around €2.2B, down from its previous target of €2.7B.
April 30, 2024
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