Hard times also for Lufthansa, cuts 30,000 employees and dismantles 130 planes
The German carrier posted an operating loss of 1.26 billion euros in the third quarter and reimbursed over [...]
Lufthansa
The German carrier reported an operating loss of 1.26 billion euros in the third quarter and refunded more than 3 billion cancelled travel tickets.
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During the call with investors, the company's management-which reluctantly had to accept Bundesbank money to shore up its financial situation-explained that revival plans for the last months of 2020 will not be on track.
After closing numerous lounges, including that of Malpensa, and reduced routes, now it is time for staff and aircraft cuts.
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At present, cost control has led the company to cut its losses in half, but currently the company burns 24 million a day, basically 1 million per hour.
All that is left is a drastic cut in staffing; there is talk of laying off nearly 1 in 6 employees. It would mean going from 128,000 to about 100,000 employees.
They are already Retirements of some airplanes began instead, at the end of care we are talking about more than 130 aircraft including the entire fleet of 747/400 and probably the Airbus A380s.
In the 2020/2021 winter period, routes are also expected to be cut with a 75% reduction compared to 2019. This will also impact the routes to Italy of all group companies: in addition to Lufthansa, Swiss, Eurowings and Brussels Airlines.