Published on : Thursday, March 5, 2020
Lufthansa Airlines, the largest German airlines recently announced that it would take down around 150 aircraft from its 750 total flights all across the globe. The decision has been taken in light of the recent COVID-19 coronavirus outbreak.
On Wednesday, a spokesperson from Lufthansa Airlines said in a press statement that the airline organization is adjusting its plans dynamically in order to reflect according to the unusual circumstances and grave situation at present. The airline has decided to cut-down 25-long haul flights and 120 medium-haul and short-haul flights. Lufthansa previously mentioned that it would considerably reduce the number of flights based on the outreach and effects of the coronavirus in forthcoming weeks.
The Lufthansa Airlines shares have plummeted in recent days as a result of the deadly coronavirus outbreak. The stock of the airline remained around 27% lower as compared to the start of the year.
On Tuesday, Lufthansa Airlines issued a warning that the airline industry will be facing worse economic conditions in days to come due to the coronavirus outbreak. However, they also predicted that the demand for travel can stabilize the condition of the aviation sector in days to come. Earlier this week, the airline declared that they will slash their flight plan by 25% not only in majorly affected areas but also domestically within Germany. Moreover, the suspension of flights to China and Tehran has been extended until April 24th 2020 and April 30th 2020, respectively. Services have also been reduced in Northern Italy.
Lufthansa Airlines has already grounded 23 long-haul aircraft last week. On the financial front, the airline said it was too early to judge the effect of the suspension on its income. The official earning report of Lufthansa Airlines is set to be published on 19th March 2020.