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Lufthansa, Wizz Slide on Cost Pressures, Capacity Plan Pullbacks

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Aug 14, 2023

Lufthansa, Wizz Slide on Cost Pressures, Capacity Plan Pullbacks

Lufthansa expects demand for flying to remain high for the remainder of the year with bookings for the late summer and early winter seasons at 90% of pre-pandemic levels. Deutsche Lufthansa AG and

Lufthansa expects demand for flying to remain high for the remainder of the year with bookings for the late summer and early winter seasons at 90% of pre-pandemic levels.

Deutsche Lufthansa AG and Wizz Air Holdings Plc slid after reporting robust quarterly results, as investors focused in on capacity constraints and cost pressures that will prevent the carriers from taking full advantage of demand for air travel.

Lufthansa, Europe’s biggest airline group, said Thursday that cost inflation is being driven by a rise in air traffic control and airport charges, as well as higher expenses tied to maintenance and spare parts. The German company said 13 of its aircraft will need to be idled in the coming months over issues tied to Pratt & Whitney geared turbofan engines.