It lowered its 2014 operating profit forecast to
The primary reason for the lowered expectations was the problem of a shortage of passengers and cargo coupled with an overabundance of seats and space on its planes in its European and US business. That has led to a drop in prices on those routes, the airline said.
Expansions by Gulf carriers, particularly in
A pilots strike in early April reduced
In response, the airline will reduce its capacity in winter and step up a cost-cutting plan, which would allow it to double its operating profits in 2015, she said.
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