EK’s finances may not look pretty, but have a look at the Financial Times for 16th June (Lex column, back page, and read the article about Lufthansa. I’m unable to post a link, but here are some extracts.
”Last summer, a €9 billion government bailout was approved by shareholders. This years net debt including pension obligations should hit €18.6 billion”
”Lufthansa expects to cut €3.5 billion of non fuel overheads, roughly 8 per cent. This depends on reducing staff costs by 20 per cent from from 2019 levels, to which Unions have agreed”.
EK is not unique in its current situation. Hopefully things will improve quickly.