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Business

Lufthansa Launches New Asian Routes

German carrier Lufthansa has launched two routes linking Munich with Singapore and the Chinese city of Shenyang, despite soaring oil prices which have seen other airlines cutting routes and capacity.

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Lufthansa continues to fly high, despite record fuel costs

Lufthansa said it would run five flights a week between Singapore's Changi Airport and Munich Airport as well as thrice weekly flights from Shenyang in China to Munich via Seoul.

Uwe Mueller, Lufthansa's Asia Pacific vice president, said the airline was "in good shape" despite runaway oil prices, news agency AFP reported. He added that the company would be looking at more destinations in India and China in the coming year.

Lufthansa recently added Nanjing in China and Pune in India to its network, he said.

"There will be many more to follow. There is no plan at the moment of reducing or cutting down," Mueller said.

Record fuel prices

Soaring prices for jet fuel have caused financial pain for many carriers and there are fears some will not survive the latest global oil shock.

According to data from the Bloomberg news agency, jet kerosene prices in Singapore reached a record $173.55 (109.90 euros) a barrel on May 27.

Lufthansa had earlier said that it expected to make it through the turbulence but might not post record results this year following an operating profit of 1.38 billion euros in 2007.

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