Lufthansa extends contract of CEO Carsten Spohr

FILE PHOTO - Lufthansa Chief Executive Officer Carsten Spohr attends the annual shareholders meeting in Hamburg, Germany May 5 2017. REUTERS/Fabian Bimmer

BERLIN (Reuters) - German airline group Lufthansa has extended the contract of its Chief Executive Carsten Spohr for a further five years, with the manager set to report another record year in terms of financial results later this week.

Spohr's contract has been extended to December 2023, Lufthansa said in a statement on Wednesday.

Spohr has been CEO of Lufthansa since 2014 and has expanded its budget unit Eurowings in the face of low-cost competition, navigated a series of strikes from staff and handled the company's response to the crash of a Germanwings aircraft in 2015.

The group is due to report 2017 results on Thursday, with analysts on average forecasting adjusted EBIT of 2.8 billion euros ($3.46 billion).

($1 = 0.8083 euros)

(Reporting by Victoria Bryan; Editing by Maria Sheahan)

People also read these

Dahlmeier powers to third gold medal at biathlon...

Feb 15, 2017

US-BIATHLON-WORLD:Dahlmeier powers to third gold medal at biathlon Worlds

Flawless Worley wins women's giant slalom gold

Feb 16, 2017

US-ALPINE-WORLD-WOMEN:Flawless Worley wins women's giant slalom gold

Shipulin holds off Fourcade to give Russia...

Feb 18, 2017

US-BIATHLON-WORLD:Shipulin holds off Fourcade to give Russia biathlon relay title

Austrian court backs extradition of Ukraine...

Feb 21, 2017

US-UKRAINE-FIRTASH:Austrian court backs extradition of Ukraine businessman Firtash to U.S.

Bargain shoppers dominate quiet NHL trade...

Mar 2, 2017

US-ICEHOCKEY-NHL-TRADES:Bargain shoppers dominate quiet NHL trade deadline day

Sign up now!