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The novel coronavirus has developed into a severe migraine headache that numerous airlines worldwide are suffering from. For example, Lufthansa Group plans to reduce its capacity by up to 50% in the coming weeks.
The decision to cut the capacity by up to 50% (concerning all passenger airlines in the Lufthansa Group) came in light of unforeseen circumstances caused by the global outbreak of the coronavirus resulting in “drastic decline in bookings as well as numerous flight cancellations”.
Among the possible measures is also considered temporary suspension of 14 Airbus A380 aircraft fleet. However, Lufthansa Group confirmed to Aviation Voice that this move is only being considered and has not been confirmed yet.
According to Lufthansa Group, capacity reduction is the measure that could help prevent the airlines from financial consequences created by the decline in demand for air travel.
This also “complements the planned savings actions in the area of personnel, in material costs and project budgets, and other liquidity measures”, the statement adds.
However, “it is not yet possible to estimate the burden on earnings to be expected from current developments”.