Of course there are other more important issues that revolve around the UK’s decision to secede from the EU, but LH’s CEO has offered his perspective on BREXIT’s impact on the Lufthansa Group.
Carsten Spohr, CEO of the Lufthansa Group has voiced his confidence that the group will see minimal impact to it’s bottom line once the British split from the EU is complete. Considering LH’s total sales, the UK comprises only 5% of revenue to LH’s top line.
As it stands now, LH group flies over 7 million passengers between mainland Europe and the UK each year with half of that traffic involving Frankfurt or Munich. London Heathrow itself sees over 350 LH Group departures each week.
What may change things once the split is complete is the amount of demand that the UK will have for LH flights. As it stands now, with the open travel policy between EU states, it’s easy to move from country to country without much effort and European Airlines are the direct beneficiary of this freedom. However, should border and immigration controls be reinstated, the desire for Europeans to visit the UK and vice versa, may change noticeably.
We can hope that intelligent heads prevail and that travel will remain largely unaffected with the new look to the EU. But that may be wishful thinking…..not too many intelligent heads seem to be around.