Lufthansa said that the airline industry may not survive without state aid if the coronavirus pandemic lasts for a long time, as it throws everything at bringing home travelers and keeping industrial supply chains open.
The German airline group, which has implemented drastic capacity reductions, introduced short-time working and suspended its dividend, said it was impossible to forecast the impact of coronavirus on its profitability."The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency," CEO Carsten Spohr said in a statement."At present, no one can foresee the consequences.
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Coronavirus: Airlines need up to $285 billion to survive pandemic, industry body saysGENEVA (BLOOMBERG) - The global airline industry needs government aid and bailout measures totalling between US$150 billion and US$200 billion (S$213 billion to S$285 billion) if it's to survive the coronavirus crisis, according to the International Air Transport Association (Iata).. Read more at straitstimes.com.
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