A Massive Shrinkage is Expected at The German Airline Lufthansa

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The German airline Lufthansa sees the pace of aviation recovery from the corona crisis gloomy and is therefore going to cut costs even more deeply.

 

Lufthansa announced in a new restructuring program that it would no longer put at least 150 aircraft into service.

The number of 22,000 layoffs announced so far is set to rise even further, it was announced Monday.

The new reorganization program also has consequences for management positions. One-fifth of managers will lose their jobs in early 2021, Lufthansa said.

The costs of the grounded aircraft fleet will amount to around 1.1 billion euros in the third quarter of 2020.

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