German airline Lufthansa stated that to adapt to the various challenges of a slump of air travel brought by the Covid-19 coronavirus pandemic, the company will be cutting 22,000 jobs, with about half of the job cuts taking place in Germany. Spokespeople at Lufthansa predicted that demand will recover slowly though the company expects to have about 100 fewer aircraft after the crisis.
Last month, Lufthansa agreed upon a rescue deal with the German government worth the equivalent of over 10 billion United States dollars to save it from collapse. Though yet to be approved by the European Commission and the firm's shareholders, the deal intends to give the German government a 20% stake in Lufthansa, which it intends to sell by the end of 2023.
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