Lufthansa Plans 1.5 Billion-Euro Savings Program, DPA Reports

Deutsche Lufthansa AG (LHA) plans to save 1.5 billion euros annually through a savings program to centralize some of its business units’ operations, Deutsche Presse Agentur reported, citing Karl Ulrich Garnadt, the head of Lufthansa’s cargo business.

Purchasing will be one of the competencies administered centrally, DPA reported Garnadt as saying, confirming earlier press reports.

To contact the reporter on this story: Alex Webb in Frankfurt awebb25@bloomberg.net.

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net.

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