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MarketScreener Homepage  >  Equities  >  Xetra  >  Deutsche Lufthansa AG    LHA   DE0008232125

DEUTSCHE LUFTHANSA AG

(LHA)
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'Business is restarting' - German executives fly back to China

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05/29/2020 | 03:02pm EDT
Outbreak of the coronavirus disease (COVID-19) in Frankfurt

By Frank Simon and Andreas Buerger

Scores of German business executives were due to return to China on Friday evening, beneficiaries of an accelerated entry procedure offered by Beijing as both countries seek to reignite their economies after months of lockdown.

Under a deal brokered by the German Chamber of Commerce in China, staff from hundreds of German companies with units there can return without undergoing two weeks' quarantine if they can show a certified negative coronavirus test.

Among the executives waiting to board the chartered Lufthansa flight to Tianjin was Karin Warowski, a controller at carmaker Volkswagen, who was eager to rejoin her husband after months of separation.

"Obviously everyone's pleased that business is restarting - it's already underway," she said, rushing through a near-deserted airport to catch her flight.

"I'm one of the first privileged few who can go back to Tianjin... I'm very pleased to be going back to where my husband is. We've been apart for four months."

About 500 to 1,000 business managers have been offered an accelerated re-entry procedure by the Chinese government, a German business representative told Reuters on Tuesday, with family members bringing the total to around 2,500 people.

Even as much of the rest of the world economy has shut down to try to stop the spread of the coronavirus, which originated in China, factories there have been ramping up production again since the outbreak abated.

China is Germany's most important trading partner by far, with around 206 billion euros (186 billion pounds) worth of goods traded in 2019.

(Reporting by Frank Simon and Andreas Buerger; Writing by Thomas Escritt; Editing by Andrew Cawthorne)

Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE LUFTHANSA AG -2.77% 8.49 Delayed Quote.-46.79%
MEMBERS CO., LTD. -2.13% 1378 End-of-day quote.-39.48%
SEEK LIMITED -2.45% 21.13 End-of-day quote.-6.30%
VOLKSWAGEN AG -1.38% 137.38 Delayed Quote.-20.96%
WORLD CO., LTD. -0.54% 1463 End-of-day quote.-45.63%
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Financials
Sales 2020 17 619 M 20 067 M 20 067 M
Net income 2020 -4 692 M -5 344 M -5 344 M
Net Debt 2020 11 361 M 12 939 M 12 939 M
P/E ratio 2020 -0,93x
Yield 2020 0,19%
Capitalization 5 075 M 5 784 M 5 780 M
EV / Sales 2019
EV / Sales 2020 0,93x
Nbr of Employees 136 966
Free-Float 82,1%
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Technical analysis trends DEUTSCHE LUFTHANSA AG
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TrendsBearishNeutralBearish
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Mean consensus SELL
Number of Analysts 21
Average target price 5,54 €
Last Close Price 8,49 €
Spread / Highest target 17,8%
Spread / Average Target -34,7%
Spread / Lowest Target -94,1%
EPS Revisions
Managers
NameTitle
Carsten Spohr Chairman-Executive Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Roland Schütze Chief Information Officer
Martin Koehler Member-Supervisory Board
Christine Behle Deputy Chairman-Supervisory Board
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RYANAIR HOLDINGS PLC-26.52%13 080
CHINA SOUTHERN AIRLINES COMPANY LIMITED-31.87%11 014
CHINA EASTERN AIRLINES CORPORATION LIMITED-20.83%9 391