Lufthansa CEO says no end in sight to burning through cash

Lufthansa is burning cash at a rate of E500m per month and is far from breaking even, the German airline's CE said Monday. Carsten Spohr said the airlines group, hit by Europe's worsening coronavirus situation, was hoping to stop the outflow of cash once it reached a utilisation rate of about 50% for seat capacity. "That is absolutely not foreseeable. We are happy if we can reach 20% during winter," he added. Lufthansa last month announced further cuts to its fleet and workforce along with a E1.1b euro impairment on idled aircraft. Spohr added on Monday he was certain the group would weather the crisis.<br/>