India formalised an air bubble with Germany in July 2020. An air bubble arrangement allows nationals of both the countries to travel in either direction
The airline will also pull its remaining eight Airbus A380 jets out of service and put them in long-term storage, along with 10 four-engine A340-600 aircraft
German airline major Lufthansa on Tuesday said that it will operate 160 flights between India and Germany in September.
India is one of most important international markets, says Germany's largest airline
Lufthansa plans to increase short and medium-haul capacity to 55% of prior-year capacity in the fourth quarter
Under the pacts, airlines such as Air India, Air France, and Lufthansa are operating on these routes, MIAL said
Air France and United have already commenced bookings for travel from Paris and Newark to India, while Lufthansa is yet to open inbound sales
Lufthansa Group, which employs about 138,000 people, said it would also halve its investment in new aircraft, although it said that meant it could still add up to 80 new planes by 2023.
Shareholders of German flag carrier Deutsche Lufthansa gave the green light to the federal government's 9-billion-euro ($10 billion) stabilization package, the company said.
The pan-European STOXX 600 closed up 0.7% after a choppy session with automakers, financial services, banks and insurers the top gainers, rising between 1.6% and 2.4%.
Lufthansa has been hard hit by what is expected to be a protracted travel slump because of the Covid-19 pandemic, forcing it to seek a bailout
The carrier may also face a fare war with European discounters led by Ryanair Holdings and years of sluggish demand on usually money-spinning long-haul routes.
Lufthansa and the rest of the airline sector have been hard hit by what is expected to be a protracted travel slump due to the coronavirus pandemic
Digital initiatives of several global enterprises have been cancelled or postponed in the last couple of months as the Covid-19 crisis has prompted firms to halt non-revenue generating ventures
Airlines including Air France-KLM and the main U.S. carriers have all sought government aid to ride out the coronavirus crisis, which has brought air travel to a near-halt.
Berlin, which has set up a 100 billion euro fund to take stakes in companies struck by the coronavirus crisis, says it plans to sell the Lufthansa stake by the end of 2023
The aid package involves taking an initial 20 per cent stake that could rise to a blocking minority of 25 per cent plus one share in the event of a hostile takeover, the carrier said on Monday.
Rivals such as Franco-Dutch group Air France-KLM and U.S. carriers American Airlines, United Airlines and Delta Air Lines have also sought state aid
The deal includes state taking a 20% stake in the company
With over 106 destinations in Germany and Europe and more than 20 intercontinental destinations, the range of flights will be expanded