Lufthansa Group airlines to operate about 25% of normal capacity in 4Q2020
Lufthansa Group reported (20-Oct-2020) that through the expansion of its schedule over the Jul/Aug-2020 summer period, along with "considerable" cost reductions, the group managed to reduced its losses compared to 2Q2020. Lufthansa stated demand for air travel is expected to remain low in the coming winter months due to the global evolution of the pandemic and the associated travel restrictions. Under current planning, 4Q2020 capacity at the group's airlines will be down 75% year-on-year, to ensure that operations continue to generate a positive cash contribution. At the same time, Lufthansa Group is working intensively on restructuring measures in all business segments in order to achieve short and medium term cost savings and minimise the operating cash outflow. [more - original PR]
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