Lufthansa Welcomes New Leader - 2003-06-18

Following a pre-established executive succession plan, Lufthansa German Airlines today officially welcomed as its new CEO and chairman Wolfgang Mayrhuber, formerly deputy chairman of the company's executive board. Jurgen Weber stepped down after a 12-year stint at the top of the German carrier's leadership team.

"Under his leadership, Lufthansa will remain ready for change and will develop its strengths, such as vigilance, speed and the choice of the right tools," Weber said of his successor. Lufthansa credited Mayrhuber, who began his career with the carrier in 1970 as an engineer, with leading the carrier's turnaround during the early 1990s. The company also cited Mayrhuber's recent efforts to develop inflight Internet access, wireless technology in airport lounges and executive jet services.

During Weber's tenure, Lufthansa evolved from a state-owned entity "into a profitable aviation group and the founding of the Star Alliance." Weber will stay with the company as chairman of the new Lufthansa Supervisory Board.

Weber reaffirmed his view that Lufthansa had experienced the worst of the industry downturn and is well on its way to recovery. "We have crossed the valley of tears," he said. "Our firm foundations have weathered the storm, and the knowledge that a good team will take over at the helm of Lufthansa gives me a feeling of security, even in this difficult situation." Lufthansa recorded a 2002 net profit of $752 million, following a 2001 net loss of $664 million. The carrier, however, like many others, posted a deep loss in this year's first quarter.

Lufthansa also detailed a 30 million euro program targeting improved service for premium customers. It will introduce a new lie-flat business class seat this fall, and it will follow next summer with exclusive terminals and transfer lounges in Frankfurt and Munich.