Due to the ongoing corona crisis, Lufthansa has to shrink even more than previously planned. A larger number of aircraft will be decommissioned, and more full-time positions are to be cut.
Dhe Lufthansa has to shrink even more in the Corona crisis than previously planned. At least 150 aircraft from the Group’s fleet of 760 jets will no longer take off, the company announced on Monday. The number of full-time positions that will be lost will also exceed the previously announced 22,000.
In the opinion of the Management Board, in view of the still great uncertainties in global air traffic, short-term adjustments to the current market situation will be inevitable in the foreseeable future, according to a corporate announcement. The aforementioned fleet decisions will result in further write-downs in the order of magnitude of up to EUR 1.1 billion. The amount should be posted “in the third quarter of the current year”.
The reason is the significantly slower recovery of air traffic from the corona pandemic crisis. The fleet of Lufthansa and the other airlines in the group should shrink to around 610 aircraft by the end of the crisis, which is only expected in the middle of the decade, and thus by 50 more than previously planned. With the fleet, CEO Carsten Spohr also plans to cut jobs even more in order to reduce costs. The arithmetical surplus of 22,000 full-time positions initially expected is increasing. The crisis packages with the trade unions are intended to limit the number of redundancies for operational reasons.
Tourist traffic is not recovering
Passenger air traffic has so far hardly recovered from the corona pandemic that broke out six months ago. After a slight recovery in the summer, the number of bookings at Lufthansa has fallen again since September because more travel warnings and quarantine requirements have been imposed with the increasing number of infections in Europe.
Lufthansa and its subsidiaries Austrian Airlines, Swiss and Brussels Airlines had to be saved from bankruptcy with nine billion euros in government aid from Germany, Switzerland, Austria and Belgium.