News Content
Lufthansa Cargo to shed 800 jobs after suffering first quarter loss
GERMANY's Lufthansa Cargo is to lay off 800 people to cut costs, management at the German carrier have announced.
In May, Lufthansa's cargo business returned to the red during the first quarter of the year as overcapacity and weak demand took their toll on the business, reported London's Air Cargo News.
Lufthansa Cargo, which employs 4,600, said that that many of the job losses will take place through early retirement.
The Lufthansa Logistics business, which includes the cargo division, ULD specialist Jettainer and its Aerologic investment, saw first-quarter revenues drop by 21.8 per cent year on year to EUR480 million (US$540 million).
In May, Lufthansa's cargo business returned to the red during the first quarter of the year as overcapacity and weak demand took their toll on the business, reported London's Air Cargo News.
Lufthansa Cargo, which employs 4,600, said that that many of the job losses will take place through early retirement.
The Lufthansa Logistics business, which includes the cargo division, ULD specialist Jettainer and its Aerologic investment, saw first-quarter revenues drop by 21.8 per cent year on year to EUR480 million (US$540 million).
Latest News
- For the first time, tianjin Port realized the whole process of dock operati...
- From January to August, piracy incidents in Asia increased by 38%!The situa...
- Quasi-conference TSA closes as role redundant in mega merger world
- Singapore says TPP, born again as CPTPP, is now headed for adoption
- Antwerp posts 5th record year with boxes up 4.3pc to 10 million TEU
- Savannah lifts record 4 million TEU in '17 as it deepens port
