Lufthansa keeps CEO Spohr on for another five years / Photo: CHRISTOF STACHE - AFP/File
-
Best Pet Advent Calendars for Christmas 2026: Dog Treats and Cat Toys
-
IIM Indore Announces IPMAT 2027 Exam Date for April 24
-
Grattan Institute Releases Blueprint to Target Specialists Over Excessive Fees
-
The Dilemma of Recording Live Music: Preserving Memories vs. Being Present
-
Arizona Science Center Hosts Girls in STEM Astro Adventures for Students
-
ANC’s Renewal Rhetoric Fades as Voters Reject Party in 2026 Local Elections
-
New Turkish Cafe, Japanese BBQ, and Korean Restaurants Open Across East Bay
-
Foreign Investors Return to Indian Markets After 10-Month Selloff
-
Knowle Move Four Points Clear at Top After Histon Victory
-
Honda CR-V and Toyota RAV4 Lead Canada’s Most Stolen Vehicles List for 2025
-
Physicians Urge Arizona to Ban Medical Gag Clauses and Enable Private Lawsuits
-
China Extends Tariff Suspension on US Imports to Stabilize Trade Ties
-
New Campaign Highlights Knowledge Gaps on Carbon Monoxide Safety Among Americans
-
JR East Launches 'teppay' to Integrate Suica Balance with Mobile Payments
Lufthansa keeps CEO Spohr on for another five years
Lufthansa CEO Carsten Spohr, who steered the airline back from the brink of bankruptcy during the pandemic, will see his contract extended by another five years, the group said Thursday.
Lufthansa's supervisory board agreed to keep Spohr, 56, in the role until December 2028, the company said in a statement.
Spohr "has not only mastered the most difficult crises and challenges but has also been responsible for the three most economically successful years in the group's history," said supervisory board chairman Karl-Ludwig Kley.
Spohr has been at the helm of Lufthansa since 2014.
The airline, one of Europe's biggest, was plunged into crisis in 2020 when travel restrictions at the height of the Covid-19 pandemic brought global air travel to a near-standstill.
To save the group from bankruptcy, the German government stepped in with a nine-billion-euro ($9.5-billion) rescue package.
But passenger demand rebounded strongly once the travel curbs eased, and Lufthansa was able to repay the bailout ahead of schedule in 2021.
The group is due to announce its 2022 financial results on Friday, expected to show adjusted operating profits of around 1.5 billion euros -- a far cry from the 2.3-billion-euro loss it made in 2021.
Lufthansa's supervisory board on Thursday also agreed to extend the contract of chief financial officer Remco Steenbergen by another five years.
G.Machado--PC
