Despite a shaky set of quarterly figures, the Lufthansa Group is sticking to its full-year outlook and says demand remains strong, particularly for its premium products.
The German airline group wants to avoid purchasing a controlling stake in TAP because it doesn't require approval from European Union antitrust authorities.
Due to increased airport costs and decreased corporate travel, both Low-Cost Carriers and Full-Service Carriers have scaled back operations in Germany, leading to a 10-year low in capacity levels in 2023.
After leaving Hong Kong in 2022, Shanghai was Virgin Atlantic's final Chinese destination. The development comes amid a broader retreat among some Western carriers.
The Lufthansa Group lowered its outlook for 2024 due to negative market trends — particularly in Asia — and aircraft delivery delays that have afflicted most of the industry.