Lufthansa aims to present shareholders at its annual meeting on May 8 with a new designated finance chief who will be promoted from within the company's own management, a German newspaper reported.
"We will not become weaker in the position of chief finance officer," supervisory board chairman Juergen Weber told German financial daily Boersen-Zeitung in comments published in advance of its Tuesday edition.
He said management was right to decide on a EUR€1.5 billion (USD$2.0 billion) saving programme that was "ambitious but necessary".
Although Weber acknowledged the company's fleet of aircraft needed to be renewed, he refused to finance any purchases via borrowing. "I won't accept debts in the order of EUR€8 billion - EUR€10 billion like our competitors," he said.
Weber said "absolutely nothing has changed" regarding his support for Wolfgang Mayrhuber as his favoured candidate for the chairmanship when he steps down next year.