Lufthansa Technik could provide “attractive” collateral for its parent airline group to raise financing to ensure its survival through the coronavirus crisis, Credit Suisse has said.
Lufthansa Group plans to make massive cuts to its over €3 billion ($3.4 billion) in planned investments this year, as the airline prepares for an extended period of no or very little demand.
Following increased government travel restrictions and a massive drop in demand related to the COVID-19 coronavirus outbreak, Brussels Airlines, Latvian flag carrier Air Baltic and Italian regional carrier Air Dolomiti have all decided to temporarily suspend operations.
By Jens Flottau, Helen Massy-Beresford, Tony Osborne
Lufthansa Group has become the latest European airline to apply for state aid in its four home countries to address a nearing liquidity crisis, the airline confirmed Mar. 13.
Lufthansa subsidiary Austrian Airlines has applied to temporarily reduce work hours for its 7,000 employees as the airline copes with a dramatic drop in demand because of the COVID-19 outbreak.
As COVID-19 coronavirus spreads globally, the number of international departure seats from China is set to drop by more than 5.5 million in March 2020 as airlines across the world continue suspending service.
This week: Calgary to join Eurowings’ long-haul network; Alitalia to end service to Santiago, Chile; and Frontier Airlines further increases its presence at Ontario International.
Lufthansa and United Airlines are seriously considering a plan to jointly acquire TAP Portugal in an effort to protect their position in the Europe-Latin America market and keep Delta Air Lines from investing in another European carrier.
Lufthansa is close to terminating its long-standing cooperation with Condor after LOT Polish Airlines parent Polish Aviation Group (PGL) announced Jan. 24 that it would buy the German leisure airline.
A tie-up with Lufthansa could boost Alitalia’s revenues by €100 million ($112 million) a year, an executive from the German group told a hearing of the Italian government’s transport committee Jan. 7, Italian media reported.
Routesonline provides an update on the operations of the Airbus A380. We also reveal the network size of each operator and the top destinations served by the aircraft type.
Lufthansa chief executive Carsten Spohr has called on governments across Europe to accelerate carbon reductions by encouraging investment in sustainable fuels and using aviation taxes for the benefit of the environment.