Lufthansa plans to repay state aid in three years. CEO Carsten Spohr explains that they will go into debt again. And he gave details of the booking situation.
The Lufthansa Group plans to act more carefully in the future. “We will certainly be more conservative with financial planning than before,” said Lufthansa CEO Carsten Spohr in an interview with the Neue Zürcher Zeitung. One could hardly prepare in one fell swoop like the Corona crisis, he said. Because the business had “gone 99 percent for months”. Such buffers cannot be created.
That is why state aid was needed. The entire volume of nine billion euros is needed, says Spohr. “The first billion have just arrived”. However, the money from Switzerland for Swiss has not yet flowed.
Repay state aid and get into debt
Lufthansa claims to have repaid state aid by 2023 – which will probably also mean that the associated conditions will no longer apply. But that doesn’t mean that you won’t be debt-free, says Spohr. “We want to take out loans on the market to repay taxpayers’ money in Switzerland, Germany and Austria. We would rather be indebted to the capital market than to the taxpayer. »
In terms of bookings, Spohr said there was no clear picture. “Both Lufthansa and Swiss are above expectations in continental traffic above and on intercontinental routes,” said the CEO of the Neue Zürcher Zeitung. The USA, in particular, had problems, for which “half of our long-haul aircraft alone had been planned”. It is hoped that traffic to the United States will begin to return to normal in September.