Airline maintenance provider Lufthansa Technik Philippines (LTP) will lay off 300 employees in April due to the impact of the COVID-19 pandemic on the airline industry that forced some of its clients into bankruptcy, The Star reported. "This decision comes after careful study and consideration of the business situation as a result of the pandemic, its effects on the aviation industry," LTP president and CEO Elmar Lutter said in a letter to employees dated Feb. 11. "As a maintenance, repair, and overhaul provider for aircraft, the significant fleet reductions announced by various customer airlines with some already in bankruptcy proceedings have a direct negative effect on LTP's business," Lutter said. Lutter said the "rightsizing program" will be carried out in two phases, first by voluntary separation, and then by retrenchment. The layoff "is temporary until our industry fully recovers," he added. The company said around 2,700 workers will remain after the layoffs, which take effect on April 1. The LTP is a joint venture company of Lufthansa Technik AG and MacroAsia Corporation, controlled by Philippine Airline (PAL) owner Lucio Tan. LTP's client list includes PAL and some of the world's largest airlines. Read more.