The German air group Lufthansa has warned that it does not expect air traffic to recover quickly once the coronavirus crisis passes, so it has approved a restructuring package that includes a reduction in its aircraft fleet and the closure of its subsidiary ‘low cost’ Germanwings.
“It will take months for global travel restrictions to be fully lifted and years for global air traffic demand to return to its pre-crisis levels,” the company said.
For this reason, they have decided to accelerate the objective of concentrating all ‘low cost’ activity under the Eurowings brand, which implies the final closure of Germanwings. Ten Eurowings will also withdraw from Eurowings short-distance services.
In addition, restructuring programs have been approved for the Austrian Airlines and Brussels Airlines subsidiaries. On its side, SWISS Air Lines will reduce its fleet by delaying deliveries of short-haul aircraft and consider early return of older aircraft.
As for the rest of the group’s fleet, Lufthansa has decided to withdraw six A380s, seven A340-600s and five B747-400s from service, while withdrawing eleven A320s from short-haul operations. With this decision, the capacity in the hubs of Frankfurt and Munich will be reduced. .