News Headline Summary

Deutsche Lufthansa (LHA GY) CEO says costs at new Germanwings in 20% lower

- Co. sees new Germanwings unit having EUR 1.8bln revenue.
- Sees EUR 200mln savings from new unit and 1,000 job cuts with shift to Germanwings

Update details:

- Germanwings GmbH is a low-cost airline based in Cologne, Germany, and is wholly owned by co.
- Earlier in the year, co. said it aims to make short-haul operations outside its main hubs profitable by 2015 as it folds all such routes into the Germanwings low-cost arm and scraps business class offerings at the unit.

Reaction details:

- Co. shares unreactive, trades up 0.63% at EUR 13.52.

Print 10:23, 06 Dec 2012 - DAX - Source: Newswires