Lufthansa City Center (LCC) reported (22-Sep-2022) its business travel segment is "recovering faster than expected", and forecasts the pre-pandemic level could be reached by the end of 2023 "if the development continues". Following "very strong recent bookings", the company expects to achieve 80% of the 2019 levels of turnover in 2022. Managing director Markus Orth stated LCC is currently detaching itself from the general development in the market with its strong recovery, highlighting the company "benefits greatly from its focus on medium-sized companies". Mr Orth said employees of medium-sized companies are currently going on much more frequent business trips compared to large corporations, while "a large number of high-revenue new customers were gained who were specifically looking for a TMC with a high level of consulting expertise". Mr Orth expects a "push in Asia" for 4Q2022, with demand for trips to China high and customers willing to pay the currently high prices. LCC also expects travel to Hong Kong and Singapore to continue to increase, while the "important North American business is also continuing to do well". [more - original PR - German]
Lufthansa City Center business travel segment 'recovering faster than expected'
23 September, 2022