Air Transport World

Lufthansa. (Europe Report).(financial situation not good)(Brief Article)

Lufthansa CFO Karl-Ludwig Kley said LH attributed weekly losses of [euro]50 million ($53.7 million) to SARS, the Iraq war, sluggish global economies and recession in home market Germany. He told employee newspaper Der Lufhanseat in April that the carrier's overall financial situation is much more serious now than after the 1991 Gulf War or 9/11, adding that there is no precedent for the combined collapse of passenger business and revenue within such a brief time span. "Since the outbreak of SARS, some days our planes are flying to the Far East only 25% full," Kley said. "Last-minute cancellations on Asian routes are unimaginably high. That's also true for the decline in bookings over coming weeks. …

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