European price war squeezes Lufthansa hard in Q2

European airline giant Lufthansa on Tuesday reported tumbling net profits in the first quarter, saying higher operating costs and a European short-haul price war ate into the bottom line. Net profit at Lufthansa fell 70 percent year-on-year in April-June, to 226 million euros ($252 million). "Persistent overcapacities, aggressive competition and increasingly...

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