Tourexpi
Lufthansa Group adjusts full-year outlook due to strikes
The loss was higher than expected due to various
strikes, both by different employee groups within the Group and by employees at
system partners, which impacted earnings by around EUR 350 million. The Group’s
Adjusted free cash flow was positive at EUR 305 million, mainly due to
continued high inflows from advance ticket payments.
The Group expects that the operating result in the
second quarter will be lower than in the previous year. The result for the
second quarter is expected to be negatively impacted by an additional around
EUR 100 million because of the effects that the now settled wage disputes,
particularly at Lufthansa Airlines, had on short-term demand for travel
bookings and ongoing conflicts at Austrian Airlines. In addition, the ramp-up
of capacity in the second quarter is forecasted to be slightly lower than
originally planned to support improvements in punctuality for the customers and
because of delays in new aircraft deliveries. Overall, incoming bookings are in
line with original expectations, especially for the summer holiday months,
supporting the Group’s forecast for the second half of the year. In the second
half of the year, the result is expected to be higher than in the previous
year.
Adj. EBIT of around EUR 2.2 billion is now expected
for the year as a whole (previously: stable earnings development compared to
EUR 2,682 million in the previous year). Adjusted free cash flow is expected to
be at least EUR 1 billion (previously: at least EUR 1.5 billion). The as yet
unforeseeable effects of the recent escalation of the Middle East conflict and
further geopolitical uncertainties pose risks to the Group's full year
financial outlook.
The Group will provide further details on the
financial outlook when it publishes its final results for the first quarter on
30 April.
Image
Credit: © Lufthansa Group
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