Cost reductions decrease operating loss compared to previous quarter

At the end of September, the Group had liquidity of EUR 10.1 billion at its disposal. This figure includes undrawn funds from the EUR 9 billion stabilization packages from Germany, Switzerland, Austria and Belgium. Out of those, EUR 6.3 billion are still available.

The Group is also in a position to withstand further burdens from the corona pandemic. Demand for air travel is expected to remain low in the coming winter months due to the global evolution of the pandemic and the associated travel restrictions. According to current planning, the Group’s airlines will only offer a maximum of 25% of the previous year’s capacity in the fourth quarter to ensure that flight operations continue to generate a positive cash contribution. At the same time, Lufthansa Group is working intensively on restructuring measures in all business segments in order to achieve short and medium-term cost savings and minimize the operating cash outflow.

Source: Lufthansa