Lufthansa to cut leadership positions, 1,000 admin jobs

BERLIN (Reuters) – Lufthansa announced another package of restructuring measures on Tuesday, including a 20% cut in leadership positions and the reduction of 1,000 administrative jobs, as it battles with the fallout from the coronavirus pandemic.

Lufthansa said it would also cut the investment volume for new aircraft in half, with its financial plan allowing for up to 80 new aircraft for the group’s fleet up to 2023.

Lufthansa’s shareholders backed a 9 billion euro ($10 billion) government bailout last month, securing the future of Germany’s flagship airline after it was brought to the brink of collapse by the COVID-19 pandemic.

(Reporting by Emma Thomasson; Editing by Maria Sheahan)