Lufthansa pushes revamp amid ‘unprecedented’ demand volatility

Lufthansa is pushing ahead with cost-cutting efforts to meet the challenge of an airline industry buffeted by “unprecedented” shifts in demand following terrorism in some of Europe’s most popular travel destinations. “Market volatility has become huge" amid economic uncertainty, particularly over the possible effects of Britain’s vote to leave the EU, as well as terrorist incidents, CE Carsten Spohr said Thursday. “I haven’t seen anything like this in my career.” The carrier is transforming itself at “the highest possible speed” to maintain earnings, he said. Lufthansa is among European airlines that have scaled back flight plans and earnings forecasts following deadly terrorist attacks in cities including Paris, Brussels and Istanbul in the past year and a half. <br/>