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Investing.com -- German airline Lufthansa (ETR:LHAG) is preparing for reduced demand for flights to the United States in the third quarter following a strong summer season, CEO Carsten Spohr said.
Speaking at a business journalists’ event on Thursday, Spohr noted that while "the first quarter was better than the previous year, we are seeing a levelling-off in the third quarter."
The CEO explained that the decline in demand during the third quarter is partly balanced by stronger demand for flights from the United States, where prices are higher. In response, the airline plans to increase the proportion of seats it markets in the U.S.
Spohr also confirmed that Lufthansa’s ongoing restructuring efforts remain on track, with the company expecting to achieve a gross profit contribution of approximately €1.5 billion ($1.73 billion) by 2026.
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