Airline industry will require state support if Wuhan coronavirus lasts for long time: Lufthansa

In a statement, German airline Group Lufthansa said, if the Wuhan coronavirus which has gone pandemic lasts for a long time, it would be very difficult for the airline industry to survive without state help.

Lufthansa, which has slashed flight capacity, suspended its dividend and has introduced short-time working, said it was impossible to forecast the impact of coronavirus on its profitability.

“The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency,” said Lufthansa CEO Carsten Spohr in a statement.

“At present, no one can foresee the consequences.”

Lufthansa, which also owns Swiss International, Austrian Airlines and Brussels Airlines, has carried out and planned 140 relief flights to repatriate stranded citizens in what has been described as the biggest operation of its kind.

“In addition, we are doing our utmost to help ensure that supply chains for many thousands of businesses do not break down by mobilizing additional capacity for air freight transport,” said Spohr.

Lufthansa’s senior management will take a 20% pay cut, said Lufthansa, as it confirmed results already released on March 13.

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