Flights Slump By Up To 92.9%, Lufthansa Particularly Hard Hit by Corona Crisis

The volume of flights in Germany has fallen by up to 92.9% in the wake of the corona crisis. According to a new infographic from Kryptoszene.de, the decline has been particularly severe for Lufthansa. In the second week of October, the airline recorded 74.3% fewer passenger flights compared to the same period last year. 

Worldwide air traffic reached its lowest point in May of the crisis year. However, in October there were still around 47% fewer aircraft in the air globally than in the previous year. This was shown by data from “OAG”. According to an “IATA” survey, 44.6% of citizens stated being “very concerned” about contracting Covid-19 while travelling. Another 38.6% are merely “worried”. Just one in twenty stated that they were “not worried”.

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58.4 million aircraft seats were booked worldwide in the 41st calendar week, compared to 112.7 million seats booked in same week last year. The global decline was 48.2% for the period. As shown in the infographics, the decline has been particularly severe in Germany and Europe. In mid-October, 68.7% fewer flights were operated in Germany than in the previous year.

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Lufthansa In Crisis

It is clear that Lufthansa has been particularly affected by the pandemic compared to other airlines. For example, their aircraft carried 74.3% fewer passengers in the 41st calendar week in comparison to last year. For Ryanair, however, the decline amounted to 56.1%. For Air China, the decline was just 2.5%.

A look at share price development also paints a similar picture, as you can see in the infographics. Within the last 365 days Lufthansa has lost 50.1% of its market capitalisation. Irish competitors Ryanair, on the other hand, have only lost 3.7% in value.

A comparison with the performance of cross-sector indices highlights the extent to which the crisis is affecting airlines. Despite considerable corrections, the DAX rose by a minimal 0.8% in the past year despite the crisis, while airlines in general dropped significantly.