In short-haul price war, Lufthansa will hold its ground

German carrier Lufthansa will continue to fight for market share in the highly contested short-haul market, where it is set to compete with budget airlines such as Ryanair, its chief executive said.

Lufthansa was well positioned to continue global consolidation in the aircraft industry, in which only 12 global carriers would exist in the future, and Lufthansa wanted to play an active role.

“We will not be followed far from our home market by those who are used to coming, seeing and conquering,” Lufthansa Chief Executive Carsten Spohr told reporters late Monday. “We have the financial strength to oppose.”

Lufthansa in late July blamed price competition on short haul routes and fuel surges and maintenance for a 25% drop in adjusted earnings for the second quarter before interest and taxes./investing

Stay updated with INFOEUROPEFX to find out the latest news about stock market.