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Lufthansa 'planning more cuts'

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Lufthansa 'planning more cuts'

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Lufthansa is reportedly planning to cut its spending in the face of low demand for air travel, rising fuel prices and the cost of recent acquisitions of other airlines.

A internal company memo obtained by Reuters showed the company plans to cut annual costs by one billion euros by 2011. It could defer delivery of some aircraft and would get rid of around 400 administrative workers.