Lufthansa Warns of Cash Crunch as Talks With Government Drag On
- Funds could run low in weeks if bailout talks don’t succeed
- Fuel-hedging losses push quarterly results deeper into red
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Deutsche Lufthansa AG risks running low on cash within weeks, with the German airline saying the global oil rout has deepened its distress, and its survival now depends on a multibillion-euro bailout from four states.
Liquidity will fall sharply if Europe’s largest carrier is unable to soon access aid, Lufthansa said late Thursday. The coronavirus pandemic has forced the sprawling airline group to halt most flights, choking off revenue while outgoing costs for ticket refunds and financial obligations strain its reserves.