(CercleFinance.com) – The group reports the impact of strikes on its results and adjusts its outlook for the whole year.
On a preliminary basis, the Lufthansa Group recorded an adjusted EBIT loss of 849 million euros in the first quarter of 2024 (compared to a loss of 273 million euros in the previous year).
The loss was higher than expected due to various strikes which had an impact on profits of around 350 million euros.
The group’s adjusted free cash flow was positive at €305 million, mainly due to continued high flows from prepayments of notes.
The Group expects second quarter operating profit to be lower than last year. The second quarter result is expected to be negatively impacted by an additional approximately 100 million euros due to wage disputes;
In the second half of the year, the result is expected to be higher than the previous year.
An adjusted EBIT of around 2.2 billion euros is now expected for the full year (compared to a stable profit development compared to 2,682 million euros in the previous year).
Adjusted free cash flow is expected to be at least €1 billion (up from at least €1.5 billion).
The Group will provide further details on its financial outlook when it publishes its final first quarter results on April 30.
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