• From left: David O·Brien, Chief Commercial Officer at Ryanair, , Stefan Schulte, CEO of Fraport AG,  and Kenny Jacobs, Chief Marketing Officer Ryan Air, stand with a sign that reads 'Frankfurt am Main new base'  at the airport in Frankfurt  Germany, Wednesday Nov. 2, 2016.  Low-cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a move that opens a new front in the German carrier’s battle with no-frills competitors.  Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal. (Andreas Arnold/dpa via AP)

    From left: David O·Brien, Chief Commercial Officer at Ryanair, , Stefan Schulte, CEO of Fraport AG, and Kenny Jacobs, Chief Marketing Officer Ryan Air, stand with a sign that reads 'Frankfurt am Main new base' at the airport in Frankfurt  Germany, ... Wednesday Nov. 2, 2016. Low-cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a move that opens a new front in the German carrier’s battle with no-frills competitors. Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal. (Andreas Arnold/dpa via AP) (The Associated Press)

  • An airplane of  Irish low-cost airline Ryanair is parked next to a Lufthansa airplane at the airport in Frankfurt am Main, Germany, Wednesday Nov. 2, 2016. Low-cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a move that opens a new front in the German carrier’s battle with no-frills competitors.  Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal.    (Boris Roessler/dpa via AP)

    An airplane of Irish low-cost airline Ryanair is parked next to a Lufthansa airplane at the airport in Frankfurt am Main, Germany, Wednesday Nov. 2, 2016. Low-cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a ... move that opens a new front in the German carrier’s battle with no-frills competitors. Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal. (Boris Roessler/dpa via AP) (The Associated Press)

  • From left: Stefan Schulte CEO of Fraport AG, David O·Brien , Chief Commercial Officer at Ryanair, and Kenny Jacobs. Chief Marketing Officer Ryan Air,  sit during a press conference at the airport in Frankfurt,  Germany, Wednesday Nov. 2, 2016.Low-cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a move that opens a new front in the German carrier’s battle with no-frills competitors.  Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal. (Andreas Arnold/dpa via AP)

    From left: Stefan Schulte CEO of Fraport AG, David O·Brien , Chief Commercial Officer at Ryanair, and Kenny Jacobs. Chief Marketing Officer Ryan Air, sit during a press conference at the airport in Frankfurt,  Germany, Wednesday Nov. 2, 2016.Low-... cost airline Ryanair is starting flights from Frankfurt, the main hub for Lufthansa - a move that opens a new front in the German carrier’s battle with no-frills competitors. Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal. (Andreas Arnold/dpa via AP) (The Associated Press)

Lufthansa faces Ryanair competition in Frankfurt

Markets Associated Press

German airline Lufthansa faces a new competitor at its Frankfurt hub as low-cost airline Ryanair announced the start of flights there.

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Ryanair said Wednesday it would base two aircraft in Frankfurt and fly to vacation destinations Alicante, Malaga, and Palma de Mallorca in Spain, as well as to Faro in Portugal.

Low-cost airlines often choose secondary airports rather than main hubs such as Frankfurt, where costs can be higher.

The news came as Lufthansa said its third-quarter net profit rose to 1.42 billion euros ($1.57 billion) from 794 million euros on reduced costs and a new pension deal with employees.

Revenue fell 1.2 percent to 88.28 billion euros as repeated terror attacks and political and economic uncertainty continued to weigh on bookings.