Lufthansa needs a deeper overhaul: CEO

Lufthansa chief executive Carsten Spohr said the German airline needs a deeper overhaul after acknowledging the most expansive saving plan to date was swept away by higher costs and falling ticket prices.

While the plan dubbed “score” generated €2.5bn in profit for the group in the three years through 2014, the benefits were almost entirely eaten up by adverse effects, Mr Spohr said yesterday as he announced earnings.

“In the past, we didn’t always have the necessary courage to act,” Mr Spohr said. “We can cut costs, we just can’t do it fast enough. Now we are forced to implement structural changes.”