Make Kitco Your Homepage

Lufthansa applies for short-time work for 31,000 employees

Kitco News

BERLIN (Reuters) - Lufthansa (LHAG.DE) has applied for short-time work for around 31,000 crew and ground staff at its core brand until the end of August, a spokesman said on Friday, as Germany’s flagship carrier has slashed flights due to the coronavirus outbreak.

Short-time work is a form of state aid that allows employers to switch employees to shorter working hours during an economic downturn to keep them on the payroll. It has been widely used by industry, including Germany’s car sector.

The spokesman said Lufthansa had not yet applied for state aid but was in talks with various banks and authorities about what kind of help would be possible if the airline needed it.

He said around 700 of Lufthansa’s roughly 760 planes were currently grounded.

Reporting by Klaus Lauer; Writing by Michelle Martin; Editing by Scot W. Stevenson

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.