German airline Lufthansa intends to reduce its foreign staff by 20,000 people by the end of this year.
The carrier is also selling its LSG division, which deals with in-flight catering, which employs 7,500 people.
All Lufthansa’s subsidiaries – Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleet and personnel, in the face of falling demand for flights due to the COVID-19 pandemic.
Lufthansa previously reported a loss of 1.97 billion euros in the third quarter of 2020.
For comparison, a year earlier the airline reported 1.15 billion euros in net profit in the third quarter.
The carrier’s revenue fell by 74 percent – from 10.11 billion to 2.66 billion euros. The capitalization of the company has decreased by almost 53 percent since the beginning of the year and is now about 4.8 billion euros.
– eTurboNews | Trends | Travel News Online
