Diplomatic initiatives to ease transatlantic air travel could unleash price wars to entice passengers back into near-empty cabins at a time when airlines can’t afford it. While Lufthansa Chief Executive Carsten Spohr predicts the U.S. will reopen to Europeans in “a matter of the next two or three weeks” he also cautions against any race to the bottom on fares. Geoffrey Weston, a consultant with Bain & Co., expects airlines to rein in revenue management software that typically sets fares to fill planes. “In recovering markets there’s more human intervention and control over pricing,” Weston said.
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