The German flagship airline Lufthansa on Thursday stated it had recorded second-quarter losses of 1.5 billion euros (around $1.78 billion), as the travel industry continues to suffer from the coronavirus restrictions.
According to the company, its sales slumped by 80 percent, compared to the same period the previous year, reaching only 1.9 billion euros.
"We are experiencing a watershed moment in global air traffic. We do not expect demand to return to pre-crisis levels before 2024", Lufthansa chief executive Carsten Spohr announced.
Berlin previously approved a bailout programme for the corporation to stay afloat amid the coronavirus crisis but according to reports Lufthansa will have to give up its prized slots at the Frankfurt and Munich airports to ensure fair competition.