Lufthansa Will Make Further Cuts to Deal With Worsening Outlook for International Travel
Carrier will reduce capacity, number of planes, costs and employees to deal with crisis >>
by: Harvey Chipkin
In light of a worsening outlook for international air traffic and with the end of the summer travel season, the executive board of Deutsche Lufthansa AG approved the third package within the company’s ReNew restructuring program. It included: revising downward the capacity outlook to 20-30% of the previous year’s levels if current trends continue, reducing the number of aircraft, eliminating more jobs than previously anticipated. further cutting costs and reducing administrative office space. In the Executive Board's assessment, the continuing high level of uncertainty in global air traffic makes short-term adjustments to the current market situation unavoidable for the foreseeable future. The Board considers the expansion of COVID-19 tests prior to departure an essential prerequisite for the resumption of global mobility. According to a statement, consistent testing is possible, increases safety for travelers and “is a better alternative than changing inconsistent entry and quarantine regulations.”
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