Lufthansa Group's revenues were 73% lower in 2020 compared to 2019
In 2020, the demand for air travel has dropped dramatically due to the pandemic coronavirus and globally imposed travel restrictions. Aviation, tourism and related industries were the hardest hit. Most airlines are affected by the crisis caused by the COVID-19 pandemic.
The numbers speak for themselves. E.g, The Lufthansa Group's revenues fell to 13.6 billion euros in 2020, a significant decrease compared to the previous year when the group's revenues were 36.4 billion euros.
Hoping to reduce losses, Lufthansa Group has taken drastic measures to reduce expenses, reaching operating cash limited to around EUR 300 million per month in Q4.
A large part of the fleet was stored for preservation, and tens of thousands of employees lost their jobs. At the end of 2020, the number of Lufthansa Group employees was 110, 000% lower than the previous year.
In 2020, the Lufthansa Group carried more than 36 million passengers.
In 2020, Lufthansa airlines offered about a third of the seats available in 2019. 36.4 million passengers were transported, the equivalent of 25% over the previous year. At the same time, the aircraft loading factor was only 63%, 19.3 percentage points lower than the previous year.
In the pandemic, Lufthansa Group companies took advantage of the star operating mode in the hub, an advantage over low-cost companies that operate on a point-to-point basis. They managed to maintain important connections in the central hubs.
Another 10.000 employees may lose their jobs.
Last year, the number of employees decreased by about 28.000. In Germany, another 10.000 jobs will be reduced or the corresponding staff costs will have to be offset. The Group's fleet will be reduced to 650 aircraft by 2023. By the middle of the decade, the Lufthansa Group hopes that the level of operations will return to 90% pre-pandemic.