Lufthansa has in effect retired its entire A340-600 fleet.
With the announcement 7 would be withdrawn already, the airline has been looking in the longer term crystal ball and taken the decision to send the rest to Teruel in Spain, where they will be deep stored for up to 2 years, making 17 retirements. On top of that 5 744’s, 3 A343’s and 6 A380’s have all been permanently withdrawn with 10 A320’s.
If the market picks up so dramatically its worth bringing them back, it might be considered, but Lufthansa admitted this would be unlikely and they will probably be broken up.
Lufthansa is in deep trouble at the moment. 90% of its fleet of 750 have been grounded, and its debt level – the highest of all the main groups at 12.5 times earnings is a heavy burden.
When aviation slowly resumes Lufthansa is going to be desperate to claim back it’s market share and will aggressively protect its business.