Lufthansa Executive Board announced a new set of cost measures after seeing deeper decline in airline traffic in recent weeks.
The covid-19 pandemic continues to challenge the airline industry all over the world.
The new decisions include further reduction of flight capacity, re-downsizing of the fleet and cutting more jobs.
The airline says if the negative trend continues, Lufthansa will keep its flight capacity at 20-30% of last year in the last quarter of the year.
The carrier plans to permanently remove 150 aircraft from its fleet in the medium term.
in June Lufthansa announced a 22,000 surplus of full time positions . However, this number will increase as a result of the new decision. The airline said it will meet with the relevant worker representatives for the possible redundancies. The total number of redundancies expected to reach a total of 28.000 employees.
Lufthansa received 9 Billion Euros of financing from the German government in June.
The carrier aims to reduce its cash outflow from around 500 million Euros per month to 400 million Euros per month in the winter of 2020/21.
Lufthansa reported a loss of € 1.49 Billion for the second quarter of 2020. The German flag carrier says the administrative office space will be reviewed worldwide and reduced by 30 percent in Germany.
This post was published on 21 September 2020 10:27 pm