Covid-19: Loss-making Lufthansa forecasts no air travel take-off until 2024

BERLIN (Reuters) – Lufthansa does not expect air travel demand to return to pre-coronavirus crisis levels until at least 2024, as the German airline posted a 1.7 billion euro quarterly operating loss.

The collapse in demand for air travel due to the COVID-19 pandemic meant the airline carried 96% fewer passengers between April and June than a year earlier, leading to an 80% decline in second-quarter revenue to 1.9 billion euros ($2.25 billion).

Tentative signs of a European recovery now appear threatened by new localised outbreaks and restrictions, while long-haul flights such as to the United States – which are important for Lufthansa – remain largely grounded due to rising infections.

“We do not expect demand to return to pre-crisis levels before 2024,” Chief Executive Carsten Spohr said on Thursday.