Posted on 09/21/2020 10:53:08 PM PDT by Olog-hai
Lufthansa said Monday it will slash more jobs on top of 22,000 previously announced cuts, as well as put more planes out of service, because it is currently losing some €500 million a month.
With demand set to be lower than expected through winter as the coronavirus pandemic continues to severely curtail travel, the airline said it now plans to reduce its fleet by 150 planes by 2025.
It had previously estimated it would have to scrap 100 aircraft in response to the unprecedented crisis in the aviation sector.
Lufthansa, which received a government bailout worth €9 billion in June, said it would have to book €1.1 billion in impairment over its fleet decision. …
(Excerpt) Read more at thelocal.de ...
Shutting the world economy down was a bad idea.
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