Lufthansa Sees Delayed Recovery After Record Annual Loss
- German airline cuts capacity plans as virus curbs persist
- CEO sees some revival this summer depending on jabs success
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Deutsche Lufthansa AG struck a more pessimistic tone after reporting the biggest loss in the airline’s history, saying it might need until the middle of the decade to recover from the coronavirus pandemic that’s ravaged the industry.
Europe’s biggest airline group warned Thursday that it may be able to operate only 90% of its pre-pandemic capacity by then, a sign of deteriorating confidence in a revival after Lufthansa previously suggested the market could recover fully by 2024.