Lufthansa CEO says Airline consolidation ‘Overdue’

We look at the Lebanese press as the country enters a new coronavirus lockdown.

German Chancellor Angela Merkel has said there will be a decision "soon" on a potential rescue program for airline giant Lufthansa. The carrier was seeking capital as it struggles to cope with the coronavirus pandemic.

The much-anticipated deal is being reported by German news agency DPA. The rescue package is meant to help the airline cope with losses incurred by the effects of the COVID-19 pandemic.

The German airline group Lufthansa says it will undergo "far-reaching restructuring" after reporting a net loss of €2.1 billion in the first three months of the year. The changes will include job cuts at its Brussels Airlines and Austrian Airlines brands. Lufthansa's board agreed on Tuesday to a €9 billion German government rescue loan to help it through the crisis. Also today, shares in French carmaker Renault jumped in early trading in Paris after it formally secured a €5 billion government-backed loan to shore up its finances.

Tens of thousands of jobs could be cut at German airline Lufthansa. Executives said Thursday personnel costs had to be reduced drastically to ensure a better restart following the coronavirus crisis.

This will be the worst year in the history of aviation, with passenger numbers and revenues half of what they were last year, according to industry body the International Air Transport Association (IATA). With borders closed to limit the spread of the coronavirus, airlines have been forced to ground their fleets, costing them billions in lost revenue every month. "The worst is behind us," IATA's CEO Alexandre de Juniac told FRANCE 24 - providing that there is no second wave of Covid-19. He warned, however, that it will take until 2022 or 2023 before air travel returns to pre-pandemic levels.

The German airline's top shareholder has said he will back the deal, quashing fears he would scupper the government's proposed rescue package. The €9 billion deal is set to be voted on by investors on Thursday.

Hit by a slump in global travel demand, Lufthansa has posted a €2 billion loss for the third quarter of 2020. The firm plans to cut thousands of jobs as the coronavirus pandemic weakens its business outlook.

Germany's national carrier Lufthansa has announced billions of euros worth of losses for 2020. Coronavirus disruption has catapulted the airline into an unprecedented crisis.

The new routes follow EU advice against using Belarusian airspace. On Sunday, the Minsk government sparked international outrage by forcing the landing of a Ryanair jet to arrest a dissident journalist.

Brussels and Washington are expected to put an end to much of the trade tensions fueled by former US President Donald Trump. DW takes a look at the various crises that have strained relations between the two allies.

Shares in Lufthansa drop after the German government’s announcement that it will be selling a quarter of its stake in the airline. The complete stake will be sold before the end of 2023.