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Issue Overview

European Airlines’ Summer of Anguish

European Airlines’ Summer of Anguish

August 9th, 2020

17 min read

Issue Summary

Finally, an airline that actually made money last quarter. Two of them actually. Korean Air and its hometown rival Asiana, both cargo power players even in normal times, reported solid Q2 profits as yields for shipping goods rose dramatically. The cargo yield boom (volumes were down) gave Lufthansa a boost too, but not nearly enough to offset giant losses from its multi-branded passenger operations. The Lufthansa Group is happy to see some Europeans taking Mediterranean holidays again. But even coupled with the positive cargo trends, this doesn’t negate the need to become much smaller, meaning big job cuts and many…

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