March 19, 2020 / 6:54 AM / 12 days ago

Lufthansa unit Swiss faces liquidity crunch as coronavirus guts travel

ZURICH, March 19 (Reuters) - Lufthansa unit Swiss International Air Lines said on Thursday it is experiencing massive revenue losses in 2020 and that short-term measures to safeguard liquidity are the top priority as the coronavirus lays waste to global travel.

No forecasts can yet be made on earnings results for 2020, in view of the present extremely unpredictable developments, the company said.

Swiss has frozen hiring, deferred some salary payments, and halted projects not essential to operations to preserve money.

Lufthansa had said earlier that the airline industry may not survive without state aid if the coronavirus epidemic lasts for a long time, as it throws everything at bringing home stranded travellers and keeping industrial supply chains open. (Reporting by John Miller; Editing by Michael Shields)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below