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Lufthansa to cut 95% of flights in survival mode
22 Mar, 2020

(Bloomberg) -Four of the world's leading airlines laid bare the devastation the coronavirus is inflicting on travel, with three major carriers parking nearly 2,000 planes and Qantas Airways Ltd. temporarily laying off close to 30,000 staff in some of the industry's deepest cuts to date.

The measures at Deutsche Lufthansa AG, Europe's biggest carrier, go furthest, with Chief Executive Officer Carsten Spohr saying he'll idle 700 aircraft and 95% of seats, shrinking the flight schedule to a level last seen in 1955. Delta Air Lines Inc. is grounding half its fleet to wipe out 70% of capacity, while American Airlines Group Inc. will park 450 aircraft as it cuts international and domestic routes. Qantas is ceasing international operations.

"The coronavirus has placed the entire global economy and our company in an unprecedented state of emergency," Spohr said. "No one can foresee the consequences. We have to counter this extraordinary situation with drastic and sometimes painful measures."

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