Germany: Lufthansa losing approx. 'a million euros' every hour — CEO Spohr

CEO Carsten Spohr acknowledged that the Lufthansa Group is in dire need of financial «support from the government,» as he addressed shareholders virtually at the annual meeting in Lufthansa Aviation Center headquarters in Frankfurt on Tuesday. «After three record years, we are now losing operationally, approximately a million euros of our liquidity reserve every hour,» Spohr added, as the company... Еще has been forced to ground most of its fleet following the closing of borders amidst the corona crisis. Lufthansa is currently negotiating with German, Austrian, Swiss and Belgian governments for financial aid to the tune of a €10 billion ($10.8 billion) bailout, despite being responsible for the reparation of around 100,000 people who had been stranded as borders were closed. Amid promises to reduce fleets and ground planes, Spohr also promised older jets «that aren't as environmentally friendly» will be taken out of service sooner than planned. «German Wings will be closed down two years earlier than planned,» Spohr added. Restrictions: News Usage Only

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