Lufthansa beats forecasts, may scrap more jets
Lufthansa is losing less money than expected. In Q4 the German airline group posted a net loss of US$1.38b, beating analyst forecasts. Last year the company secured almost $11b in state aid to tide it through the global travel slump. In 2021 it expects to fly 40-50% of the capacity it had two years earlier. But it's expecting a swift rebound in travel demand as lockdowns ease. Even so the money is still flowing out. In the first quarter Lufthansa expects to burn through about $360m dollars every month. The group is now thinking about retiring more planes. CE Carsten Spohr says he may permanently ground all aircraft older than 25 years. The company had already outlined plans to shrink its fleet to 650 jets by 2023.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-03-05/star/lufthansa-beats-forecasts-may-scrap-more-jets
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Lufthansa beats forecasts, may scrap more jets
Lufthansa is losing less money than expected. In Q4 the German airline group posted a net loss of US$1.38b, beating analyst forecasts. Last year the company secured almost $11b in state aid to tide it through the global travel slump. In 2021 it expects to fly 40-50% of the capacity it had two years earlier. But it's expecting a swift rebound in travel demand as lockdowns ease. Even so the money is still flowing out. In the first quarter Lufthansa expects to burn through about $360m dollars every month. The group is now thinking about retiring more planes. CE Carsten Spohr says he may permanently ground all aircraft older than 25 years. The company had already outlined plans to shrink its fleet to 650 jets by 2023.<br/>
