German airline giant Lufthansa reports a loss for the full year 2020 of a record-high SEK 68 billion, according to Thursday's financial statements.
The company is now reducing its activity to a level where profit is not likely in 2021 either, Bloomberg reports.
After a record loss of 6.7 billion euros, equivalent to 68 billion kronor, in 2020, Lufthansa's expectations are low of being able to deliver a profit in 2021.
Revenue for the full year fell by 63 percent to 13.5 billion euros, equivalent to 137 billion kronor.
”"Internationally recognized, digital vaccination and test certificates must replace travel bans and quarantines. From the summer, we expect demand to start increasing again as soon as travel restrictions are eased with expanded testing and vaccinations," Lufthansa CEO Carsten Spohr said in a statement, according to Bloomberg.
The company will utilize 40 to 50 percent of capacity compared to 2019, against the previous target of between 40 and 60 percent. A capacity utilization of at least 50 percent is required for Lufthansa to be able to make a profit, which is why the company has postponed expectations when the numbers will no longer be in the red.
Source: di.se
