Carsten Spohr
Older than 7 days

Lufthansa curbs cash drain

Carsten Spohr
Carsten Spohr, © Lufthansa

Related News

FRANKFURT - Lufthansa is losing 1 million euros ($1.2 million) every two hours, "a significant improvement" over the low point of the Covid-19 crisis, the German airline group's chief executive said on Thursday.

Lufthansa, which was racking up losses at twice that rate at one point last year, has cut costs and pared back flights to those generating positive cash thanks to buoyant cargo rates, CEO Carsten Spohr said in a webcast interview hosted by Eurocontrol.

The group last year received a 9 billion euro bailout in which the German government took a 20% stake.

Lufthansa has so far used about 3 billion euros of its cash injection, Spohr said, and may end up not needing the full amount.

The airline is still hoping for a strong travel recovery from the northern summer onwards, Spohr added, and expects to run at 40-60% of pre-crisis capacity for the year as a whole.
© Reuters, | 22/01/2021 07:33

Comments (0) Go to front page

To write a comment, please sign up at or log in.



Discussions on current events and developments in the aviation industry

Pilot Jobs at " by SkyTest®"

Special: Flight Training

Most Read Passenger Experience

There are new
stories at

Reload main page