"Meanwhile the cash burn is going to continue" and may even in increase in Europe, Pearce told an online conference on Wednesday. For bailed-out airlines like Air France-KLM and Lufthansa , a longer slump increases both debt and the likelihood more support will be needed. "The lockdown puts strains on demand, and we're adjusting capacity according to demand," Chief Executive Jozsef Varadi told Reuters. Data provider OAG, which tracks airline schedules, predicted "carnage in Europe" after airlines slashed western Europe capacity by a quarter. Recovery hopes have driven a share rebound for European airlines since the first vaccine breakthrough in November, before lockdown setbacks pared average gains to 30 percent, based on the Stoxx Europe airlines index.

Source: bd News24 January 14, 2021 12:56 UTC