The consequences of the terrorist attacks in the United States have a major impact throughout the aviation sector and thus also on Lufthansa. The losses incurred due to the closure of US and Canadian airspace, flight diversions, cancellations and an ongoing drop in demand have made it necessary for the company to revise its forecast for the year 2001. Given the ongoing uncertainty about political and economically developments, it is not possible at present to make a reliable forecast for the results of the year 2001. In order to gear the company to the new conditions facing the aviation sector, Lufthansa immediately approved a comprehensive package of drastic measures. The Executive Board and the Supervisory Board agreed to shelve plans to order up to 15 Airbus A380s and four Boeing 747-400 wide-body jets. Investment planning on this scale needs a sound basis, Weber said. In the course of the freeze on investments, all planned capital investments and current projects have been closely scrutinised, adjusted or, if necessary, axed.
Urgent adjustments have also been made to our route network. As already announced these include the withdraw of the Berlin-Washington services as well as the cancellation of one flight pair each on Frankfurt-New York and Frankfurt-Washington. Several routes or even destinations where given up, such as Rio de Janeiro, Paris-Orly, London-Stanstead, Valencia and Thessaloniki. All in all 28 aircrafts have been grounded by now, more than 10 per cent of the Passenger Airlines fleet.
Even further cuts are necessary, Wolfgang Mayrhuber, Member of the Lufthansa Executive Board and President and Chief Operating Officer of the passenger airline, announced yesterday night in Berlin. The Executive Board is intent on reaching socially compatible solutions in cooperation with employee representatives and the trade unions. But that presupposes a willingness to accept flexible working-hour models, he said. The introduction of a four-day week in some areas of the company as well as changes in remuneration are among the options to realise that aim.
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