Lufthansa to run out of cash without government aid

Flag carrier Lufthansa is set to run out of cash unless it is successful in its negotiations with the German government over an a  €10 billion aid package. The firm made its statement as it reported a  €1.4 billion loss for the first quarter of the 2020 as its revenues have been smashed by the impact of COVID 19 and the resulting travel restrictions. Lufthansa’s group revenues fell by 18 percent to 6.4 billion euros in the first quarter. In March alone, revenues declined by almost 1.4 billion euros or 47 percent. While the firm has embarked on an aggressive cost-cutting programme, including