Lufthansa announces 22,000 job cuts

Thursday, 11. June 2020 10:10

German flagship carrier Lufthansa said on Thursday it plans to cut 22,000 full-time jobs worldwide as it battles the impact of travel restrictions caused by the coronavirus crisis.

The airline noted that half of the affected positions are in Germany and added it will also reduce the number of aircraft in operation by about 100.

"The recovery in demand in the air transport sector will be slow in the foreseeable future," Lufthansa stressed. "Without a significant reduction in personnel costs during the crisis, we will miss the chance of a better restart from the crisis and risk that the Lufthansa Group will emerge from the crisis significantly weaker," the airline's human resources head Michael Niggemann stated.

Lufthansa's shares plunged 7.88% to €10.30 at 10:16 am CET.

Related Links: Deutsche Lufthansa AG
Breaking the News / NP