Today, Deutsche Lufthansa AG announced plans to cancel 23,000 short, medium and long-haul flights over the coronavirus outbreak in the period from March 29, to April 24, 2020. Mostly affected by the capacity adjustments will be flight in Europe, Asia and the Middle East.
Amongst most of the airline stock, shares of the company are tumbling amid the coronavirus fears.
The German airline group made clear that additional cancellations in the next weeks are very likely to occur, due to the high spreading velocity of the COVID-19 coronavirus.
Lufthansa said in a statement on the Company’s website, “Further cancellations are expected in the coming weeks. Flight schedule adjustments for the period after 25 April will be made at a later date.”
After Italy went under a lock-down for the whole country, to prevent the virus from spreading, fears in Europe are broadly surging.
“Lufthansa passengers who are planning a trip in the coming weeks are recommended to check the current status of the respective flight on lufthansa.com before departure. Guests who have left their contact details with Lufthansa will be proactively informed if their flight is cancelled,” the airline group informed its customers.
Only yesterday, American Airlines (AAL), the world’s largest airline, announced plans to cut down both its international and domestic capacity. Delta Airlines (DAL) and Spirit Airline (SAVE) followed with similar actions.
Air Canada (AC.TO) stated on Tuesday to cancel all flights from and to Italy, followed by British Airways Ryanair (RYAAY) as well as other carriers, and Qantas (QABSY) cut almost a quarter of its flights over the next half year period.