German airline Lufthansa looks to slash 22,000 jobs and reduce its fleet by about 100 airplanes as it deals with the repercussions of the coronavirus-related slump in international travel, media reported Wednesday
BERLIN (Pakistan Point News / Sputnik - 11th June, 2020) German airline Lufthansa looks to slash 22,000 jobs and reduce its fleet by about 100 airplanes as it deals with the repercussions of the coronavirus-related slump in international travel, media reported Wednesday.
According to industry news outlet FlightGlobal, Lufthansa leadership met with union leaders to outline a job cuts proposal before an extraordinary shareholders meeting on June 25.
"Without a significant reduction in personnel costs during the crisis, we will miss the opportunity of a better restart and risk Lufthansa Group [emerging] considerably weakened after it," Lufthansa labor director Michael Niggemann was quoted as saying.
The airline will attempt to mitigate the scale of the cuts by reducing working hours and wages for employees, the outlet added.
The German government agreed to bail out the airline with a 9 billion ($10.2 billion) financial support package.
The airline industry is among the worst affected by the coronavirus pandemic as most countries were forced to shut borders and ground flights to curb the spread of the contagion.
