{"id":376946,"date":"2020-10-06T09:19:03","date_gmt":"2020-10-06T03:49:03","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=376946"},"modified":"2020-10-06T11:08:45","modified_gmt":"2020-10-06T05:38:45","slug":"no-end-in-sight-to-burning-through-cash-lufthansa-ceo","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/no-end-in-sight-to-burning-through-cash-lufthansa-ceo\/","title":{"rendered":"No end in sight to burning through cash: Lufthansa CEO"},"content":{"rendered":"<p>Deutsche Lufthansa is burning cash at a rate of 500 million euros ($590 million) per month and is far from breaking even, the German airline&#8217;s chief executive said on Monday. <\/p>\n<p>Speaking at an event run by the BDI association of German industrial companies in Berlin, Carsten Spohr said the airlines group, hit by Europe&#8217;s worsening coronavirus situation, was hoping to stop the outflow of cash once it reached a utilisation rate of about 50% for seat capacity.<\/p>\n<p>&#8220;That is absolutely not foreseeable. We are happy if we can reach 20% during winter,&#8221; he added.<\/p>\n<p>Lufthansa, which in June received a 9 billion euro government bailout, last month announced further cuts to its fleet and workforce along with a 1.1 billion euro impairment on idled aircraft. <\/p>\n<p>Spohr added on Monday he was certain the group would weather the crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deutsche Lufthansa is burning cash at a rate of 500 million euros ($590 million) per month and is far from breaking even, the German airline&#8217;s chief executive said on Monday. Speaking at an event run by the BDI association of German industrial companies in Berlin, Carsten Spohr said the airlines group, hit by Europe&#8217;s worsening coronavirus situation, was hoping to stop the outflow of cash once it reached a utilisation rate of about 50% for seat capacity. &#8220;That is absolutely not foreseeable. We are happy if we can reach 20% during winter,&#8221; he added. Lufthansa, which in June received a [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[176,146,130],"tags":[],"class_list":["post-376946","post","type-post","status-publish","format-standard","hentry","category-civil-aviation-deccan-herald-newspapers","category-deccan-herald-newspapers","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=376946"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/376946\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=376946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=376946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=376946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}