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Fly News Breaks for July 1, 2019
DLAKY
Jul 1, 2019 | 07:46 EDT
As previously reported, Bernstein analyst Daniel Roeskas downgraded Lufthansa to Market Perform from Outperform saying he sees evidence of a corporate travel slowdown in Europe, driven by a weaker economy and corporate cost pressures, that can spill over into other traffic segments. As the closure of manufacturing plants or restructuring efforts following earnings downgrades across European corporations increases uncertainty for employees, leisure travelers often opt to spend less, further depressing leisure demand, he adds.
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