Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Lufthansa CEO sees no 'Greta Effect' on passenger numbers

Stock MarketsJul 14, 2019 04:11AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 

ZURICH (Reuters) - German airline Lufthansa (DE:LHAG) expects passenger numbers to rise about 4% this year, its chief executive told a newspaper, playing down talk that public support for teenage climate activist Greta Thunberg might be curbing air travel.

"At this time we don't see restraint - in fact, the opposite," Carsten Spohr told the NZZ am Sonntag newspaper in the interview published on Sunday.

"In comparison to last year, already a record year, we're expecting passenger growth of about 4 percent, (Lufthansa unit) Swiss International Air Lines is also showing growth. The discussion of climate change is not leading to restraint with bookings. People want to fly."

Media reports have suggested a "Greta effect" might curb demand for air travel, referring to the 16-year-old who has gained global attention for her efforts to convince people to reduce carbon-emitting activities.

On Saturday, a group of about 80 protesters staged a "Flight Strike" at Zurich Airport near the facilities of Swiss International Air Lines, singing songs, handing out leaflets, and encouraging people to pledge not to fly in 2020.

There were no arrests, and the demonstration dispersed without police intervention.

Spohr cited figures from the International Energy Agency showing air travel produces 2.8% of human-caused carbon dioxide.

He is frustrated that airlines are on the defensive over their contribution to climate-changing emissions.

"We haven't succeeded in explaining that air travel influences the world positively: We connect countries, economies and societies together," Spohr, a trained pilot, told the newspaper. "Moreover, for years we've been able to reduce our per-passenger CO2 emissions."

Spohr said flights offered by discount or budget airlines for just a few dollars were hurting the sector's image.

"They're making our industry the target of criticism and clogging up the airspace, because an artificial demand is being stimulated that wouldn't exist if there were realistic prices," he said.

"There should not be flights under 10 euros."

He defended Lufthansa unit Eurowings offering flights for under 35 euros, citing the need to defend its home market.

Friends of the Earth estimates aviation emissions more than doubled between 1990 and 2016, while overall emissions fell by 43%. In Europe, low aviation taxes, a proliferation of budget airlines like easyJet (L:EZJ) and Ryanair (I:RYA) and the rise of Airbnb have spurred an air-travel boom.

Nations including the Netherlands and France are seeking to convince fellow European countries to end tax exemptions on jet fuel and plane tickets.

Lufthansa CEO sees no 'Greta Effect' on passenger numbers
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email