One million euros every two hours, “Lufthansa” losses.

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The chief executive of the German airline Lufthansa Group said, Thursday, that the company is losing one million euros (1.2 million dollars) every two hours, in a “significant improvement” from the situation during the height of the Covid-19 crisis.
Lufthansa, which was losing at twice that rate at some point last year, cut losses and restricted flights to destinations generating positive cash flows thanks to higher air freight rates, Carsten Sport said in an online interview hosted by Euro-Control.
The group had received a subsidy of 9 billion euros last year, guaranteeing that the government would obtain a 20% stake in it.
Spur said Lufthansa has so far spent 3 billion euros of the cash it received, and it may not spend the whole amount.
He added that the airline is still hoping for a strong recovery in travel traffic starting from the summer, and that it expects to operate at 40% to 60% of pre-crisis capacity over the entire year.
(Reuters)




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