FRANKFURT (dpa-AFX) - Lufthansa is cutting costs following the costly 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 material costs, stop new projects and review hiring in administration. Group-wide, CEO Carsten Spohr expects flight capacity for 2024 to be only 92 instead of 94 percent of the level before the coronavirus crisis. However, bookings for the summer half-year are 16 percent 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 operating profit (adjusted EBIT) of around 2.2 billion euros - half a billion less than originally targeted./stw/ngu