Lufthansa unit Swiss faces liquidity crunch as coronavirus guts travel

Lufthansa unit Swiss International Air Lines said on Thursday it was experiencing massive revenue losses in 2020, and that short-term measures to safeguard liquidity were the top priority as coronavirus lays waste to global travel.

The company said No forecasts could yet be made on earnings results for 2020 in view of the present extremely unpredictable developments.

Swiss has frozen hiring, deferred some salary payments, and halted projects not essential to operations to preserve money.

Lufthansa had said that the airline industry may not survive without state aid if the coronavirus epidemic lasts for a long time. It has thrown everything at bringing home stranded travellers and keeping industrial supply chains open. – Reuters