Frankfurt: Deutsche Lufthansa AG halted capacity expansion at its Eurowings low-cost arm after the group’s first-quarter margins were squeezed by rising fuel bills and overcapacity that’s sparked a Europe-wide fare war.
Europe’s biggest airline is abandoning plans to increase capacity at Eurowings by 2% this year. Earlier this month, Lufthansa issued a profit warning that attributed a plunge in earnings before interest and tax on fuel prices, cheap airline tickets and tough comparisons with year-earlier figures.
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