Christoph Franz, chief executive of Lufthansa, has stated that acquisitions are a low priority, brushing off rumours that the German airline is on the brink of taking over Scandinavian airline SAS or Polish LOT. Franz said that Lufthansa has enough to do integrating the companies it had recently acquired – Austrian Airlines, BMI and Swiss – as well as remaining competitive in Europe in the face of increased competition from Gulf carriers. Lufthansa has posted increased operating profits from €130 million in 2009 to €876 million, this came despite being hit by strikes, volcanic eruptions, snow disruption and high oil
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