Despite agreeing a US$10 billion bailout plan which would give a German government stabilization fund a 20% stake in the beleaguered carrier, Lufthansa has confirmed that continued pandemic-related reductions in worldwide travel demand may lead to the shedding of up to 22,000 of its 135,9000 full-time staff.
The flag-carrying airline, which also includes Swiss, Australian Airlines and Brussels Airlines also confirmed that post the pandemic, it will likely be operating 100 less aircraft which, combined with projected job losses, saw its share price fall 8% on Thursday, June 11.
In a statement UFO, a union representing cabin crew, made it clear that its members would be prepared to make concessions, though they expected job guarantees from Lufthansa.
