The airline Lufthansa recently surprised the air transport industry by disclosing a significant downward revision of its forecasts. This unexpected announcement has had a major impact on the company's economic outlook, and is raising questions about its future.
The Lufthansa Group recently announced a significant downward revision of its financial forecasts. The announcement follows weaker-than-expected first-half results.
Impact of market conditions
During the first six months of the year, the Lufthansa Group observed a decline in yields in all regions, with a more pronounced drop in Asia. These unfavorable market conditions had a marked impact on the company's results.
Efficiency problems
In addition to market conditions, Lufthansa and its subsidiary CityLine were faced with efficiency problems, mainly due to delays in aircraft deliveries. These delays disrupted fleet operations and planning, contributing to a decline in operational performance.
Financial reviews
Ahead of its full results presentation on July 31, the Group announced that its adjusted EBIT for the second quarter should reach 686 million eurosagainst 1.1 billion euros the previous year. For its part, Lufthansa posted a profit of 213 million euros, almost 300 million euros less than last year, resulting in a net loss of 427 million euros for the period.
Competitor comparison
This downward revision comes at a time when other European airlines, such asAir France-KLMare also facing similar challenges. A situation that is prompting these behemoths to review their strategies to maintain their competitiveness.
Turnaround plan
Faced with this economic situation, the Lufthansa Group has unveiled a recovery plan to restore profitability. The plan includes various measures to improve operating efficiency and strengthen the company's financial position.
Key announcements and figures
- Lower yields
- Significant impact in Asia
- Adjusted EBIT: 686 million euros
- Earnings: 213 million euros
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