Deutsche Lufthansa is burning cash at a rate of €500m a month and is far from breaking even, the German airline's chief executive has said.
Carsten Spohr said the airlines group, hit by Europe's worsening coronavirus situation, was hoping to stop the outflow of cash once it reached a utilisation rate of about 50% for seat capacity.
He was speaking at an event run by the BDI association of German industrial companies in Berlin,
"That is absolutely not foreseeable. We are happy if we can reach 20% during winter," he added.
Lufthansa, which in June received a €9 billion government bailout, last month announced further cuts to its fleet and workforce along with a €1.1 billion impairment on idled aircraft.
Spohr did say, however, that he was certain the group would weather the crisis.