German airline Lufthansa has announced that it will cut 29,000 jobs worldwide by the end of 2020 and another 10,000 jobs in Germany in 2021.
In addition, the airline plans to sell the European business of the catering subsidiary LSG with 7,500 employees. The airline initiated negotiations around the restructuring programme with the local trade unions.
The restructuring programme is related to the COVID-19 pandemic and its impact on the air travel sector. The CEO of the company said they do not expect to see a recovery to pre-pandemic levels before 2025. The company has already used €3 billion of the €9 billion government bailout it secured earlier in the year.
Lufthansa is the largest German airline, and with its subsidiaries, also the largest airline in Europe, both in term of passengers carried and fleet size. It operates services to 18 domestic destinations and 197 international destinations in 78 countries across Africa, the Americas, Asia, and Europe, using a fleet of more than 270 aircraft. Lufthansa has 138,000 employees worldwide.