The Lufthansa Group faced significant challenges in the first quarter of 2024, reporting a preliminary Adjusted EBIT loss of EUR 849 million, largely attributed to strikes that impacted earnings by approximately EUR 350 million.
Despite this, the Adjusted free cash flow remained positive at EUR 305 million, supported by high inflows from advance ticket payments.
The second quarter is expected to see a further decline in operating results, primarily due to settled wage disputes affecting short-term travel demand and ongoing conflicts at Austrian Airlines.
However, bookings for the summer months are in line with expectations, supporting optimism for the second half of the year. Adjustments to the full-year outlook include an expected Adj. EBIT of around EUR 2.2 billion and a revised Adjusted free cash flow projection of at least EUR 1 billion, with geopolitical uncertainties presenting potential risks.
Further details will be provided upon the release of the final first-quarter results on April 30th.
This post was published on 16 April 2024 13:45
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