Within restructuring program, Lufthansa introduces third package


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Comserve Inc.

Sep 22, 2020, 13:40 EST


Bronx, United States, Sep 22, 2020, 13:40 /Comserve / -- In recent weeks, the situation for international air traffic has become significantly worse. Even though there were signs of recovery in July and August, passenger booking figures are declining again.

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Sept. 22, 2020 -- In recent weeks, the situation for international air traffic has become significantly worse. Even though there were signs of recovery in July and August, passenger booking figures are declining again. This is due to the summer travel season coming to an end. Keeping these developments in mind, the Executive Board of Deutsche Lufthansa AG has approved the third package after informing the Supervisory Board. This package is within the Group-wide “ReNew” restructuring program.

There will be a significant revision of the capacity outlook for the passenger airlines. There was a previous assumption that the average production level of 50 percent of the previous year’s value would be achieved. The fourth quarter of the year was expected to see this achievement but now is no longer considered realistic. Due to current circumstances, if the trend continues, the available seat kilometers will be in a range of 20 to 30 percent as compared to the previous year.

There will be an adjustment of medium-term fleet planning. This currently foresees a permanent group-wide capacity reduction of 150 aircraft by the middle of this decade.

Apart from the fleet changes, other significant decisions have been made too. Six Airbus A380s were taken out of service in spring. This leaves eight A380s and ten A340-600s which were intended for flight service. These will be transferred to long-term storage and also be removed from planning. Only in the event of an unexpected market recovery, these aircraft will be reactivated. In addition to this, seven Airbus A340-600s will be decommissioned permanently.

For the resumption of global mobility, the Board is considering the expansion of corona tests before departure. This will be an essential prerequisite. It is possible to do consistent testing which will not only increase the safety of travelers but also act as a better alternative than changing inconsistent entry and quarantine regulations. As of Sept. 16, 2020, the airlines that are a part of the Lufthansa Group have reimbursed around EUR 2.8 billion to a total of 6.6 million customers.

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