Lufthansa is Experiencing New Lockdowns in Europe
Lufthansa is still very much affected by the corona crisis. The German airline is, therefore, unable to avoid new measures to get through the crisis.
The relatively good performance of the summer season is currently being jeopardized, as an increasing number of European countries are re-establishing lockdowns due to second waves of the pandemic to limit travel movements and thus infections.
Lufthansa CEO Carsten Spohr said Lufthansa also needs to double its current capacity if it is to mitigate the severe financial impact of the pandemic.
“We are at the dawn of a winter that will be challenging and challenging for our industry,” said Spohr. Lufthansa therefore, does not dare to make a detailed financial forecast for the rest of the year.
The total turnover for July, August and September came to 2.6 billion euros. A year ago, that was more than 10 billion euros. The loss in the third quarter amounted to almost 1.3 billion euros. In the same period last year, the airline still posted a positive result of approximately that amount.
The losses can increase further due to the lockdowns and limited travel movements. Lufthansa, therefore, focuses on low flight capacity and tries to keep the support services to a minimum.
If the company wants to get out of the red again next year, the capacity, the combination of the number of air miles and the number of seats, must also increase to about 50 percent. Its current capacity is estimated at a quarter of what it used to be.