The group also plans to use aircraft financing to continue filling the till. 86 percent of the approximately 780 aircraft fleet are owned by Lufthansa, of which almost 90 percent are unencumbered by loans. This corresponds to a book value of EUR 10 billion. Spohr had shown on Friday that the Lufthansa the difficult situation could endure financially “definitely longer” than other airlines.
In the event that crisis if it gets worse or takes longer, it plumbs Lufthansa even the chance of State aid out. In view of this hitherto unknown challenge, the board had therefore decided not only to talk to the governments of our home countries about reducing burdens as before, but also about active support as soon as this became necessary, “said Spohr. According to a spokesman, there are talks with Austria, Belgium and the Switzerland, where the group with its subsidiaries Austrian, Brussels and Swiss is represented.
In view of the high liquidity reserves, Lufthansa circles do not want to know anything about state participation. That possible help below a stake through the Frankfurter Staatsbank KfW could be organized, but at least remained unchallenged.
The Lufthansa also cuts their current expenses and tries to postpone investments. Short-time work should be applied for for some of the workforce. Spohr called on employees to show solidarity and waiver “to secure the future of the Lufthansa Group”. The aim is to keep as many employees as possible on board.
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