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Bloomberg
Deutsche Lufthansa AG will cut 20% of managerial positions and accept no more than 80 planes from its current order book as it slashes spending to be able to repay as much as $10.1 billion in government aid.
The German national carrier will also eliminate 1,000 administrative positions in a second round of cost cutting amid a slump in travel demand caused by the coronavirus. The airline’s plan to scale back on deliveries will reduce spending on new jets by half, according to a statement.
Lufthansa said in April it will reduce the size of its fleet, which stood at 763 planes last year, by 100 and close the low-cost Germanwings unit.