IAG outshines Lufthansa, Air France in Europe growth
[FRANKFURT] Deutsche Lufthansa and Air France-KLM Group, absorbed with plans to end short-haul losses, saw their lead in European aviation slip last year as British Airways owner IAG bulked up by extending a takeover spree.
Deutsche Lufthansa, Europe's second-biggest carrier, boosted passenger traffic 2.3 per cent in 2013, the German company said on Friday, just ahead of the 2.2 per cent gain at market leader Air France-KLM. IAG grew at more than twice the rate of its closest rivals with a 5.8 per cent advance, it said last week.
As Lufthansa moves European flights outside Frankfurt and Munich to low-cost arm Germanwings and Air France reorganises short-haul services around the Transavia and Hop! units, IAG has gorged on three years of deals. The London-based company completed the takeover of Spain's Vueling in August following the purchase of British carrier BMI in 2012 and the group's formation via a merger of BA and Madrid-based Iberia in 2011.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Transport & Logistics
Porsche posts Q1 profit drop on ramp-up costs
Air China orders homegrown C919s in challenge to jet duopoly
Huawei’s smart car tech offers automakers route to China sales
Sri Lanka to hand management of China-built airport to India, Russia companies
Tesla’s plan for affordable cars takes page from Detroit rivals
Toyota is investing US$1.4 billion to build another all-electric SUV in US