German airline giant Lufthansa said Friday it would slash capacity by half in the coming weeks, as the group battles “drastic declines in bookings and numerous flight cancellations” prompted by the novel coronavirus.
“Based on further demand development, capacity will be reduced by up to 50 percent in the coming weeks,” Lufthansa said in a statement, after announcing Monday it would cut its flight plan by 25 percent.
The carrier’s shares were down slightly in afternoon trading in Frankfurt, shedding 0.8% to trade at 11.41 euros ($12.90), but still outperforming the overall blue-chip DAX index, which was down 3.1 percent.
