June 19, 2020 / 10:37 AM / 2 months ago

Lufthansa may sell Brussels Airlines or let it go bankrupt: report

FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread of the coronavirus disease (COVID-19) continues, at the airport in Frankfurt, Germany March 24, 2020. REUTERS/Ralph Orlowski/File Photo

BRUSSELS (Reuters) - Lufthansa (LHAG.DE) could let its Belgian subsidiary Brussels Airlines go bankrupt or sell it, La Libre newspaper reported on Friday, citing anonymous sources at the airline.

Brussels Airlines, which employs 4,200 people, said last month it would cut its fleet of aircraft by 30% and its workforce by a quarter to ensure its survival during and after the coronavirus crisis. [L8N2CU3JU]

Talks to save the Belgian airline been have stalled for weeks but directors of Lufthansa, which has itself been bailed out by the German government, and Brussels Airlines would meet on Monday to discuss a plan for its future.

A spokesperson for Lufthansa declined to comment.

Belgium’s government said last month it was committed to reaching a 300 million euro ($336 million) deal with Lufthansa to save Brussels Airlines if its future was guaranteed.

Reporting by Marine Strauss and Ilona Wissenbach; Editing by Alexander Smith

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