Lufthansa reported an operating loss of 336 million euros ($380 million) for the first quarter of the year, hurt by rising fuel costs and overcapacity in Europe, sending its shares down 5 per cent in pre-market trade. Germany’s biggest airline said late on Monday
Lufthansa may permanently ground more jets to emerge leaner from the coronavirus pandemic, the German airline group said, as it reported a record 6.7 billion euro ($8.10 billion) loss for 2020.
For a year expected to mark a turning point for pandemic-stricken European airlines, 2021 is off to a rough start. A resurgence of COVID-19 lockdowns has killed off a fragile bookings upturn, executives and analysts said,
Tens of thousands of Lufthansa passengers faced disruptions on Thursday as cabin crew in Germany kicked off a “massive” 48-hour walkout in the biggest escalation yet of a bitter row over pay and conditions.
The Ufo labour union on Friday announced strikes from Monday to Wednesday this week at Germanwings, which operates on behalf of Lufthansa's Eurowings brand, saying little progress has been achieved in talks with Lufthansa management.
Alitalia’s rescue hopes received a boost with signs that Lufthansa could take a stake in the Italian carrier, while Rome agreed to a 350 million euro ($389 million) bridging loan to ease immediate cash worries.
The German government and Lufthansa, which has been hit hard by the coronavirus pandemic, have reached a preliminary deal on a 9 billion euro ($9.8 billion) bailout.
Lufthansa announces a 20% cut in leadership positions and the reduction of 1,000 administrative jobs,
Lufthansa's biggest shareholder, German billionaire Heinz Hermann Thiele, criticised the 9 billion euro ($10.1 billion) bailout, saying he had raised his stake in Lufthansa to over 15% and hoped alternative options could be explored.