FRANKFURT: Deutsche Lufthansa AG signalled the start of a company-wide revamp spanning job cuts to asset disposals to help repay its 9 billion-euro (US$10bil) bailout from the German government.
Europe’s biggest airline would slash employee expenses and look at spinning off non-core units in an effort to reduce costs and bolster cashflow as the coronavirus crisis depressed revenue, it said in a statement. The group had a 2.1 billion-euro net loss in the first quarter.
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