The major carrier of Europe loses 1 million euros per hour

Created on 24.04.2020 11:20

Lufthansa, Europe's largest carrier, is suffering serious losses due to the coronavirus pandemic. The German airline loses about 1 million euros every hour, according to Handelsblatt, on April 8. Karsen Spor, the Head of the company, outlined the significant financial losses in a video message to employees. According to the Head,  Lufthansa carries out only 3 thousand passengers daily, whereas earlier this figure was much higher and averaged 350 thousand passengers.

In addition, under the prevailing crisis conditions, the Germanwings subsidiary activities had been terminated and  more than 40 aircrafts have been decommissioned  which also had a negative impact. About 7 thousand employees were moved to alternative workplaces due to reductions, 138 thousand employees are working part-time. To get out of the crisis, Lufthansa has initiated a restructuring, aimed at overcoming the COVID-19 pandemic consequences and developed a set of measures, providing to reduce monetary losses. However, as Spur noted, the airline expects the successful conclusion of negotiations with the German Authorities and for financial support from the state.

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