Lufthansa CEO Says Nadir Reached - Report

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Lufthansa passenger numbers are down around 10 percent and its yields are falling even more sharply, CEO Wolfgang Mayrhuber was quoted as saying by an Austrian paper.

"I think we have reached the nadir and demand is stabilizing at this level but we are not seeing a recovery in yields... above all because of the decline in first- and business-class passengers," Der Standard quoted Mayrhuber as saying.

"For 2009, I expect a decline of around 10 percent in passengers at Lufthansa and a decline of around 20 percent in revenue. If we manage to make a profit this year given the situation in which aviation finds itself then that will be an achievement."

Asked about the passenger and revenue comments, a Lufthansa spokeswoman said Mayrhuber was describing current market conditions and was not making a forecast for the full year.

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