Deutsche Lufthansa Plans To Cut 29,000 Jobs By Year End : Report

(RTTNews) - German airline Deutsche Lufthansa AG (DLAKF, DLAKY) is planning to cut 29,000 jobs by the end of the year, German newspaper Bild am Sonntag reported. The company will also cut another 10,000 jobs in its home country next year.

Amid the coronavirus related struggles, the airlines do not expect air travel to recover to pre-pandemic levels before 2025. Due to this, Lufthansa and its units, Eurowings, Swiss, Austrian and Brussels Airlines, have reduced their schedules, fleet and staff.

Lufthansa is also planning to sell its catering unit LSG, which employs 7,500 people.

As per the report, the company has already used 3 billion euros or $3.64 billion of the 9 billion euro-government bailout it secured earlier in the year.

Lufthansa in June announced a comprehensive restructuring programme entitled "ReNew", which includes the reduction of 22,000 full-time jobs in the Lufthansa Group.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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