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Lufthansa says it can't lift-off without cutting costs

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Lufthansa says it can't lift-off without cutting costs
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Stiff competition from European and Middle Eastern rivals means Lufthansa must keep cutting costs if it wants to remain a global airline.

The German carrier says it is being squeezed on all routes by budget airlines and falling ticket prices.

Profits fell by almost 11 percent last year to 252 million euros and moves to change costly wage deal and expand budget flights have met with strong resistance from pilots who staged ten strikes last year and have threatened more.