Lufthansa To Cut 22,000 Jobs Amid The Pandemic

The coronavirus pandemic has significantly reduced demand for air travel, prompting Lufthansa to cut 16% of its workforce and operate 100 fewer planes. Half of the job cuts will occur in Germany. The airline grounded most of its fleet in March and has implemented shorter working hours for many employees. Lufthansa has agreed to a $10 billion bailout deal, granting the German government a 20% stake in the company. The deal awaits approval from shareholders and the European Commission.

What percentage of its workforce does Lufthansa plan to eliminate?

How many planes does Lufthansa plan to operate fewer?

What is the total amount of the bailout deal agreed upon by Anza?

What stake will the German government receive in the company as part of the bailout?

What must happen for the bailout deal to be finalized after the Supervisory Board's approval?