Germany’s Lufthansa has predicted that demand from wealthy passengers will bring “substantially higher” profits despite widespread travel chaos and disputes with unions.
“We see a nice ramp-up coming for the third and the fourth quarter,” said chief executive Carsten Spohr, adding that the airline could carry 80 per cent of its pre-pandemic passenger numbers next year, even as economic data increasingly point to a global recession.
“People who are travelling business class or even first class on an airline like Lufthansa . . . they tend to be less sensitive to economic up and downturns,” said Spohr. However, he confirmed that business travel bookings were still at only 50 per cent of their pre-Covid levels.
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