Investing.com -- Lufthansa Airlines is working towards profitability through a comprehensive restructuring plan, as shared by CEO Jens Ritter on Wednesday. Although the airline has seen some initial success, the journey to profitability is still in progress.
The ambition of Lufthansa is to become Europe's leading premium airline and regain profitability, as stated by Ritter. However, he highlighted that despite several positive developments in recent times, the company has not reached its goal yet.
The main Lufthansa brand, currently considered the problem child of the Lufthansa Group, is the focus of a restructuring program. The aim of this program is to enhance earnings by two-thirds through cost reductions and one-third through increased sales.
In its quest to return to profitability, the airline has identified over 600 measures across all company divisions. These measures are expected to help steer the company back to a profitable path.
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