German Airline, Lufthansa, has reported a two billion euro loss in its third-quarter as it prepares for a “hard and challenging winter” over lockdowns to curb the spread of the coronavirus.
Europe’s largest airline said it will fly a maximum of 25 per cent of normal capacity from October to December this year, as it expects to burn 350 million euros ($411 million) a month.
“We are now at the beginning of a winter that will be hard and challenging for our industry,” Chief Executive Carsten Spohr said.
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“Global air traffic has come to a virtual standstill in recent months. This has impacted our quarterly results to an unprecedented extent.
“In view of the very slow recovery in demand, we must now take far-reaching restructuring measures to counteract this,” board chairman Carsten Spohr said in a statement.
