Food A comment on Lufthansa: Air under the wings again

18:40  04 march  2021
18:40  04 march  2021 Source:   tagesspiegel.de

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Lufthansa gets enough money on the capital market and only needs some of the state aid. In summer things should look better.

Guter Dinge: Der Vorstandschef stellte die Bilanz in einer leeren Lounge des Frankfurter Flughafens vor. © Photo: dpa Good things: The CEO presented the balance sheet in an empty lounge at Frankfurt Airport.

At the beginning of the pandemic, Lufthansa lost one million euros - every hour. Less than a year later, it is “only” ten million euros a day. CEO Carsten Spohr is satisfied with the 2020 balance sheet despite an operating loss of 5.5 billion euros and looks confidently to the future. There are two reasons for this: the return to the capital market was possible faster than feared, and the downsizing of the group with the airlines Lufthansa , Eurowings, Swiss, Austrian and Brussels is going more smoothly than expected. rescue package over nine billion

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  There's Tons of Free & Cheap Food You Can Get in December Joshua Resnick/Shutterstock Due to the coronavirus pandemic, dining indoors can be dangerous for you and the restaurant's employees. Check the CDC's Food Safety and Eating Out guidelines to understand the risks involved. Consider ordering food to-go or getting delivery to support your favorite restaurants.It's a beautiful time of year. There are holidays, and we aren't totally sick of winter, yet. Best of all, it's a time of year full of feasts and delicious seasonal foods. Maybe there isn't always a direct line from that big holiday spread you're used to sharing with friends and family and your local drive-thru window.

There was a lot of ado about the nine billion euros that the federal government put in a rescue package for Lufthansa in the early summer of last year. The populist slogans, according to which the big players are pampered by the state, while the travel agency and the corner pub break down, sound good, but do not adequately describe the reality. Since Austria, Belgium and Switzerland also participated in the aid program for the airlines in their countries, the German contribution shrank to less than seven billion euros. Lufthansa has so far only claimed 2.3 billion of this and has already repaid more than one billion euros.

investors trust Lufthansa

The biggest chunk of federal aid consists of a deposit that initially pays four percent interest, and then increases year after year to 9.5 percent. This is nice business for the Federal Minister of Finance, who does not have to pay any interest even on the capital market. Lufthansa, on the other hand, has borrowed money on the market several times in the past few months, on average for two percent and therefore significantly cheaper than the state. These market conditions reflect the trust and expectations of the donors: Lufthansa is on track and is weathering the crisis well.

Airline: Pilots and Lufthansa agree crisis plan - mass layoffs from the table for the time being

 Airline: Pilots and Lufthansa agree crisis plan - mass layoffs from the table for the time being Lufthansa and the Vereinigung Cockpit union have agreed on a long-term crisis collective agreement. There is protection against dismissal until the end of March 2022. © dpa There will be no mass layoffs for the time being. Thousands of Lufthansa pilots can breathe a sigh of relief shortly before Christmas: the approximately 5,000 pilots of the core company are protected from redundancies until the end of March 2022.

[If you want to have all the latest developments on the coronavirus pandemic live on your mobile phone, we recommend our app, which you can download

here for Apple and Android devices .] 50 percent less CO2

Smaller and more customer-oriented, The new Lufthansa will be more digital and cleaner. Of almost 800 aircraft, 150 will still be on the ground in 2023. The Executive Board is using the crisis to decommission the really big and dirty machines, so that, according to Lufthansa Spohr, in 2030, 50 percent less CO2 will be blown into the air than in 2019. The workforce is shrinking enormously: a fifth of the jobs are already gone, another 10,000 will follow - if possible by reducing working hours.

As a premium airline, Lufthansa made a living from business travelers, but not all of them will come back. This is one of the reasons why it makes sense to focus more on holidaymakers. Ultimately, Spohr's assessment is correct: people want to travel and also fly.

With vaccination certificate or negative test this should be possible from summer onwards.

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This is interesting!