German airline Lufthansa said it was operating at an operating loss of 1.26 billion euros in the third quarter due to a massive flight cancellation in a coronavirus pandemic and the cost of compensating passengers.
Lufthansa adds that they had a profit of 1.3 billion euros in the same period last year.
However, the company managed to establish some flights in the third quarter of this year and reduced operating costs, so the loss is lower than in the second quarter when it was 1.7 billion euros.
The operating loss in the first nine months of this year thus reached 4.2 billion euros, as opposed to the operating profit of 1.72 billion euros in the same period in 2019, according to a statement transmitted by Hina.
“Demand for air travel is expected to remain weak in the coming winter months due to the global spread of the pandemic and related travel restrictions,” Lufthansa said.
The German company, however, claims that they will still be able to deal with further problems related to the coronavirus pandemic.