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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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.
Source: The Straits Times - 🏆 8. / 63 Read more »
'Worse than 9/11': Coronavirus threatens global airline industryFears of massive bankruptcies and calls for emergency bailouts swept global airlines Tuesday as a top US official warned the coronavirus crisis threatens the industry even more than the September 11 attacks, which saw US airspace shut down entirely. In the United States, airlines sought $50 billion
Source: YahooSG - 🏆 3. / 71 Read more »
Airline industry turmoil deepens as coronavirus pain spreadsAirline industry turmoil deepened on Thursday as Qantas Airways Ltd told most of its 30,000 employees to take leave and India prepared a rescue ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »