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Indiaexportnews.com

Lufthansa Cargo to shed 800 jobs after suffering first quarter loss

  13.06.2016    

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).



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