Aircraft delivery delays 'brutal' - Lufthansa CEO

STORY: Aircraft delivery issues are having a "brutal" impact on Lufthansa, and won't be resolved before the end of the decade.

That's according to CEO Carsten Spohr, speaking at a business press club in Stuttgart late Thursday (June 27).

He said the aircraft shortage could be costing Lufthansa some $535 million a year - although he did not provide an exact figure.

The German group has ordered 250 new aircraft from Airbus and Boeing to modernize its fleet.

Those deliveries are scheduled between this year and 2029, but Spohr said, "no plane arrives on time."

He added around 100 of Lufthansa's 750 aircraft were grounded either for maintenance reasons or because they'd been decommissioned.

Earlier this week, Airbus lowered its forecast for deliveries this year to around 770 jets from around 800.

The announcement came with growing doubts among suppliers over its jet output as Airbus grapples with parts shortages.

At rival Boeing, a series of incidents have raised regulatory scrutiny of the U.S. manufacturer.

It's added to delays in deliveries that originated during the pandemic.