Lufthansa braces itself for financial turbulence caused by Coronavirus

epa08179160 Planes of the airline Lufthansa are parked on the apron of the airport in Munich, Germany, 30 January 2020. Lufthansa announced on Wednesday 29 January that they will suspend all flights to and from China until 09 February 2020. EPA-EFE/LUKAS BARTH-TUTTAS

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13 aircraft are currently not used within Lufthansa Group. The reason for this is the cancellation of flights to mainland China due to the coronavirus. But depending on how the epidemic continues to spread in the world, the effects could be even more drastic for the aviation group.

Lufthansa is already feeling the financial consequences of the epidemic. As Harry Hohmeister, member of the board of executives, told German Handelsblatt newspaper, cost-cutting measures are therefore being taken in the group. For example, new positions won’t be filled or hiring will be postponed. Unpaid leave or part-time work as offers to employees are also part of the cost-cutting measures, the executive said.

Via AeroTelegraph

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