Frankfurt – Deutsche Lufthansa said passenger fares are set to slide further this year as it revamps European operations in a bid to stem the flow of customers to discount rivals. The stock fell as much as 6 percent.

Lufthansa’s yield, a measure that reflects average ticket prices, fell the most in at least four years during the first quarter, while airline revenue declined almost 4 percent, the German carrier said in a statement on Tuesday.

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