Home Editors' Picks Airfares may never go back to pre-pandemic levels, CEO says
Airfares may never go back to pre-pandemic levels, CEO says
BERLIN — Lufthansa Chief Executive Carsten Spohr said on Monday that flight prices will never return to where they were before the pandemic, forecasting stable or increasing prices in future.
Tickets selling for under 20 euros was irresponsible and too low, Mr. Spohr said at an event in Berlin. The industry needed rising prices to finance greater investment and be more resilient to shocks like the COVID-19 pandemic, he added.
Still, a recession was to be expected at this stage in Germany, the chief executive warned, which would dampen consumer demand. — Reuters