Lufthansa says low cost moves will hit 2016 profit

Lufthansa reined in earnings expectations for this year saying it faces tough cut-price competition
Lufthansa reined in earnings expectations for this year saying it faces tough cut-price competition

The German airline group is predicting only slightly higher profit with lower average fares as it ramps up its Eurowings budget business. That is in response to low cost rivals such as Ryanair and easy Jet adding more flights in Europe and especially Germany which puts pressure on ticket prices.
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