Lufthansa fights the corona crisis with massive cuts

Lufthansa CEO Carsten Spohr grounded around 700 of the 763 aircraft fleet/Foto: Lufthansa

Lufthansa wants to fight the corona crisis with massive cuts. “We must counter this extraordinary situation with drastic and in some cases painful measures,” Lufthansa CEO Carsten Spohr announced. “The longer this crisis lasts, the more likely it is that the future of aviation cannot be guaranteed without state aid.”

The top management of the Executive Board will forego 20 per cent of its basic remuneration this year, said Spohr. Around 700 of the 763 aircraft in the fleet are currently on the ground. According to the Group, only five percent of the originally planned flights are currently taking off. Continue reading “Lufthansa fights the corona crisis with massive cuts” »