German airline Lufthansa rejected a report on Thursday that Chief Financial Officer Ulrik Svensson wants to step down, saying that they want to extend his contract.

Citing sources familiar with the matter, the monthly Manager Magazin said Svensson, 57, has told colleagues he didn't want to extend his contract which expires in about a year, but wants to return home to Sweden.

Svensson was not immediately available for comment.

"We work together very well as a management team," Lufthansa CEO Carsten Spohr said in an emailed response to the report.

Karl-Ludwing Kley, chairman of the Lufthansa supervisory board, said the company was very satisfied with Svensson's work and he planned to recommend an extension of his contract as soon as possible.