As competition intensifies from US and Chinese airlines, Lufthansa is facing falling fares in its core transatlantic markets, the airline’s CFO Joerg Beissel said at a press conference in Frankfurt, Reuters reported. Beissel said its Asian network has grown less profitable as Chinese airlines have bolstered their presence in the long-haul domain. Additionally, the airline said it is only able to fill economy class with large discounts as North America purchases a more firm footing in direct flights between the region and Europe. Beissel said that with increased costs and decreased revenues, it makes it clear that a “structural response” is needed
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