The largest German airline of Lufthansa due to a sharp decrease in passenger traffic in connection with the pandemic coronavirus infection “burns up to €1 million of reserves in an hour.” About that CEO Carsten Spohr told the TV channel CNN Business.
According to the TV station, on may 5 during an online conference with shareholders the company reported a €1.2 billion loss for the first quarter of this year. The top management of Lufthansa said that currently negotiations are underway with the government of Germany for financial support of the airline.
Earlier media wrote that the company hopes to receive around €10 billion (in this case, the state will receive a 25.1% stake in Lufthansa and place in the Supervisory Board). Lufthansa declined to comment on details of the negotiations, however, in a letter dated may 3, sent to employees of the company (a copy of the letter is in the possession of CNN), it was reported that the negotiations “can be completed quickly”.
Flash coronavirus infection COVID-19 began in late 2019 in China. March 11, 2020, the world health organization declared the spread of the coronavirus pandemic. According to information of the American Johns Hopkins University, the number of infected with the coronavirus in the world exceeded the 3.68 million people, including more than 1.2 million recovered, 258 thousand died.
Introduced because of the coronavirus quarantine provoked, according to IMF estimates, the largest since the great depression of the economic crisis.