Lufthansa to Cut Up to Half Its Flights as Travel Demand Plummets

Deutsche Lufthansa (OTC: DLAKY) intends to cut its capacity by up to 50% in the coming weeks, one of the most dramatic signs yet of the impact the COVID-19 coronavirus is having on travel demand.

The German airline in a statement said it "has been exposed to drastic declines in bookings and numerous flight cancellations due to the spread of the COVID-19 virus," saying all regions are now affected. The cuts, which will impact up to half of its global schedule, are designed to "reduce the financial consequences of the slump in demand."

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Source Fool.com