Lufthansa has halved the number of flights it plans to operate this winter, cutting capacity to just 25% following the resurgence of Covid across Europe.
The Lufthansa Group confirmed the worsening outlook despite delivering third-quarter results which were better than expected, with a loss of almost €1.3 billion in the three months to September.
The group, which comprises Swiss, Austrian Airlines, Brussels Airlines and Eurowings, had previously planned to operate 50% of its former capacity over the winter.
It recorded losses of more than €4 billion for the year to date after repaying €2 billion in cancellation refunds in the third quarter.
Lufthansa reported having about €10 billion in liquidity at the end of September, helped by €9 billion in loans and credit guarantees from the German state and €1.4 billion in Switzerland, plus government assistance in Belgium and Austria.
In a statement, Lufthansa said it was “in a position to withstand further burdens from the coronavirus pandemic”.
The group is due to report its third-quarter results in full in early November.
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