The sobering figure is a slight improvement on the 2nd quarter's loss of 1.5 billion euros"due to an expansion of the flight schedule in the summer months of July and August and considerable cost reductions," the airline said in a statement.is expected to remain low in the coming months"due to the global evolution of the pandemic and the associated travel restrictions," it said.
The group therefore plans to operate at just 25% capacity in the 4th quarter compared with the same period last year. Like all of the world's airlines, the Lufthansa group – which also includes Swiss, Brussels, and Austrian Airlines – has been brought to its knees by restrictions introduced to curb the spread of the coronavirus.
Around 700 of the group's 763 aircraft were grounded at the peak of the lockdowns and it was forced to put 87,000 workers on government-backed shorter hours schemes.Thanks to the rescue deal, it had liquidity of 10.1 billion euros at its disposal at the end of September and"is also in a position to withstand further burdens from the corona pandemic," the group said.and bookings were declining after a brief rebound over the summer.
To cut costs, the group plans to reduce its fleet by 150 planes by 2025 and has said it will cut at least 22,000 jobs.
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