Lufthansa does not expect air travel demand to return to pre-coronavirus crisis levels until at least 2024, as the German airline posted a 1.7 billion euro quarterly operating loss.
FILE PHOTO: Airplanes of German carrier Lufthansa are parked at the Berlin Schoenefeld airport, amid the spread of the coronavirus disease in Schoenefeld, Germany, May 26, 2020. REUTERS/Fabrizio Bensch
Tentative signs of a European recovery now appear threatened by new localised outbreaks and restrictions, while long-haul flights such as to the United States - which are important for Lufthansa - remain largely grounded due to rising infections. Lufthansa’s pessimistic view echoed a forecast last month by the International Air Transport Association that it would take a year longer than previously expected for passenger traffic to return to pre-crisis levels..
It said forced redundancies can no longer be ruled out in Germany due to worsening market conditions and faltering negotiations with unions.
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