Lufthansa has flown deep into the red due to the corona crisis. Adjusted operating loss Ebit increased to EUR 1.2 billion in the first quarter. In the previous year, the Swiss mother had only reported a deficit of EUR 336 million. In order to prevent insolvency, the airline is now applying for state aid, as the AFP news agency reports.
The group is “in intensive negotiations with the governments of its home countries with regard to various financing instruments in order to achieve long-term security of solvency,” according to a Lufthansa media release. The board is confident that the talks can be ended successfully.
#BREAKING Lufthansa seeks state aid to secure ‘solvency’: statement pic.twitter.com/OhpxvNKm1F
– AFP news agency (@AFP) April 23, 2020
It is currently not foreseeable when the group airlines, such as Swiss, will be able to resume flight operations beyond the currently applicable return flight schedule, it said. The Group therefore expects a significantly higher operating loss in the second quarter than in the first quarter. Lufthansa currently has liquidity of around EUR 4.4 billion.
(sul / sda)
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