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.

Due to the coronavirus crisis, Deutsche Lufthansa does not intend to pay a dividend to shareholders for the past business year. The Group is trying to keep all financial resources together – to protect the future of the company. The airline, which has been severely affected by the pandemic, no longer dares to venture an outlook for 2020. Lufthansa subsidiary Brussels Airlines has now asked the Belgian government for financial aid. The Belgian newspaper “Tijd” reports that 200 million euros are at stake.

Sources: Lufthansa,

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