Lufthansa will lay off 20% of its management personnel (approximately 200 people) and 1,000 administrative employees as part of a restructuring plan designed to help the German airline operator cope with the crisis caused by the coronavirus pandemic.
The Lufthansa Group, which has approximately 138,000 employees, also specified that it will halve its investments in new aircraft, but will acquire up to 80 new planes by 2023.
Last month, Lufthansa shareholders voted in favor of a €9 billion bailout plan agreed upon with the German Government.
The plan, which stipulates that the Berlin Executive will acquire a 20% stake in Lufthansa, was approved by the vote of holders of over 98% of the airline’s shares.
The Lufthansa Group also includes Swiss International Air Lines, Brussels Airlines, Austrian Airlines, Eurowings, and Lufthansa Cargo.
Frequently Asked Questions
How many management positions is Lufthansa cutting?Lufthansa is cutting 20% of its management, which amounts to approximately 200 positions.
What is the value of the bailout plan?The bailout plan agreed with the German government is worth €9 billion.
Which airlines are part of the Lufthansa Group?The group includes Lufthansa, Swiss International Air Lines, Brussels Airlines, Austrian Airlines, Eurowings, and Lufthansa Cargo.