Lufthansa to present low cost airline plans

(Reuters) - Lufthansa management will present a strategy update to the supervisory board on Wednesday including plans for a new European low-cost airline, WirtschaftsWoche said in an advance extract of its Monday edition.

A spokesman for Lufthansa declined to comment on the supervisory board meeting, adding that no strategy decisions are to be expected on Wednesday.

Separately, WirtschaftsWoche, citing unnamed sources, said strikes could have cost the German airline 100 million euros if the lost revenue from passengers who booked with rival airlines as a result of the actions was factored in.

Lufthansa said it was too early to put a final figure on the cost of industrial action and reiterated the strikes were said to have resulted in lost revenue in the double digit million euro range.

Around 1737 flights were cancelled during the strikes, with 187,614 passengers impacted, employee magazine "Lufthanseat" said in its most recent edition. Another 165,598 passengers were hit by delays the employee publication further said.

Source:  http://www.reuters.com