BERLIN, June 14 — German charter airline Condor will cut up to 25 per cent of its employees to reduce costs and recover from the coronavirus crisis, Chief Executive Ralf Teckentrup told the Frankfurter Allgemeine Sonntagszeitung weekly.
“Like other airlines, we will have to cut about 15 per cent to 25 per cent of jobs. That would be between 650 and 1,000 jobs,” Teckentrup told the newspaper today, adding he expected a crisis in the airline sector to last until 2024.
In April, Germany’s government and the federal state of Hesse agreed to give Condor loans worth €550 million (RM2.6 billion) after the owner of Poland’s LOT pulled out of a deal to buy the group.
“We will have lower income and higher costs and have to repay state aid ... Average ticket prices will rise,” said Teckentrup. — Reuters
