Lufthansa has pledged a wide-ranging restructuring, from job cuts to sales of non-core assets, as it seeks to repay a 9 billion euro ($10.1 billion) state bailout and navigate deepening losses in the face of the coronavirus pandemic.
FILE PHOTO: Airplanes of German carrier Lufthansa are parked at the Berlin Schoenefeld airport in Schoenefeld, Germany, May 26, 2020. REUTERS/Fabrizio Bensch
“In view of the very slow recovery in demand, we must now take far-reaching restructuring measures,” said Chief Executive Carsten Spohr. Brussels Airlines will reduce its fleet by 30% and its workforce by 25% while Austrian Airlines’ fleet and personnel costs are to be cut by 20%.
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