UPDATE 1-Lufthansa CEO says cost-cutting programme on track

* Lufthansa relaunches on-board broadband internet access

* Lufthansa cooperates with Panasonic for FlyNet program

* Lufthansa shares up 1.4 pct

(Adds detail and background)

FRANKFURT, Oct 12 (Reuters) - Deutsche Lufthansa (LHAG.DE)is on course to meet its cost-cutting targets, the chiefexecutive of the German flagship carrier said on Monday.

"We are on track in all areas," Lufthansa Chief ExecutiveWolfgang Mayrhuber told journalists at a news conference for therelaunch of its on-board broadband internet service FlyNet.

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