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Lufthansa suffers record loss due to corona crisis
Lufthansa, which narrowly escaped bankruptcy, made the highest loss in the company’s history due to the corona crisis last year. Despite massive cost reductions, the net loss in 2020 amounted to 6.7 billion euros, after a profit of 1.2 billion euros in the previous year. The figures largely correspond to the analyst estimates collected by the company itself. Due to the slump in demand during the pandemic, the number of passengers reached 36.4 million, only a quarter of the previous year’s figure. A large part of the fleet was on the ground, it took off only around a third of the flights of the previous year. He worked for the company for more than a quarter of a century, said Lufthansa boss Carsten Spohr. He has never experienced such an exceptional situation. “And I could never have imagined looking back on a year in which we lost two-thirds of our sales, three-quarters of our passengers and a fifth of our workforce have shrunk.” After the record loss, Spohr is now placing great hopes in the return of the travel business in the summer. He hoped that Europe could open up, said Spohr. He thinks the worst is over. This also applies to the job cuts in the company: “We want to take as many colleagues as possible through this crisis with us. As a service company, our employees, the Lufthansa employees, are our capital. My personal goal remains to secure sustainable jobs for 100,000 people in the group. ” In the current year, Spohr expects a recovery due to the elimination of the strict travel requirements in Europe in summer. But he is no longer quite as confident as he was at the end of last year. For the full year, Lufthansa expects a capacity of 40 to 50 percent compared to the pre-crisis year 2019. The airline had previously expected to achieve up to 60 percent.
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After a record loss, Lufthansa, which was badly hit by the Corona crisis, has great hopes for the return of travel business in the summer.
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