German flag-carrier Lufthansa has reached a preliminary 200 million euro ($237 million) savings deal with Verdi, the union that represents ground staff at the airline, Reuters reports. The deal applies to roughly 24,000 staff at Lufthansa, Lufthansa Technik and Lufthansa Cargo. The deal will waive Christmas and vacation bonuses, continue the state-led reduced-hours program currently in place, and reduce the top-up of short-time working compensation from 90% to 87% in 2021. The airline says these measures will save up to…
Lufthansa anticipates a significant increase in its passengers’ leisure travel appetite during the summer of 2021 and meets their expectations by introducing fifteen new international routes from Frankfurt. These new travel options are being offered throughout Europe, Asia and Africa and are currently available for booking with these services adding…
The summer has passed and the prospects for the aviation industry's recovery are once again exhausted. The high season ends and, except for some signs of recovery in demand that was seen in July and August, the market again shows the impact of COVID-19 on European aviation. For that reason,…
Swiss International Airlines announced its consolidated financial results for the first half of financial year 2020. Global travel and quarantine restrictions imposed on a global scale impacted SWISS' financial results severely for the first half of 2020. Switzerland’s national flag carrier turned in an operating loss of 266.4 million francs…
Deutsche Lufthansa AG shareholders have agreed to support a bailout package from the German government which will assist the airline group to survive in a post-COVID environment. At the ‘Extraordinary General Meeting’ held on Thursday, the €9 billion ($10.1 billion) package which gives the government a 20% stake and two…
The fate of German carrier Lufthansa's federal rescue package will be sealed at the company’s Extraordinary General Meeting June 25, when airline’s shareholders will vote on whether to accept the terms in the deal's current state. Although the bailout has been approved by the state, shareholders still have to give…
Lufthansa plans to cut thousands of jobs in response to the financial turmoil caused by the coronavirus pandemic. Despite the airline agreeing on a €9 billion ($9.8 billion) bailout package with the government, 22,000 jobs are at stake as the company announced on Wednesday after a bargaining summit with the…
German-based Lufthansa Group announced that the German government had approved a large financial stabilization package for the airline group in response to the COVID-19 pandemic. The total package will equate to about 9 billion euros ($9.8 billion) for the operating group. Along with Germany, Lufthansa owns airlines in Austria, Switzerland…
Austrian Airlines announced on Friday that it will resume operating flights on June 7, nearly three months after grounding its fleet in mid-March delaying its resumption of service five times. The move comes in response to the Austrian government's announcement that its borders with Germany and some Schengen area countries…
American serial airline entrepreneur David Neeleman is close to selling his share of Atlantic Gateway, the holding controller of Portuguese flag carrier TAP Air Portugal, to the Lufthansa Group, Portuguese newspaper Jornal de Negocios reported on Sunday. Neeleman controls 50 percent of Atlantic Gateway, which in turn owns 45 percent…
