Lufthansa Starts Reducing Fleet, Cutting Jobs After State Rescue - BNN Bloomberg
Deutsche Lufthansa AG will cut 20% of managerial positions and accept no more than 80 planes from its current order book as it slashes spending to be able to repay as much as 9 billion euros ($10.1 billion) in government aid.
The German national carrier will also eliminate 1,000 administrative positions in a second round of cost cutting amid a slump in travel demand caused by the coronavirus. The airline's plan to scale back on deliveries will reduce spending on new jets by half, according to a Tuesday statement.
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