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

DEUTSCHE LUFTHANSA AG

(LHA)
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Deutsche Lufthansa : Lufthansa cabin crew union members back cost cut deal

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08/15/2020 | 06:16am EDT
FILE PHOTO: A Lufthansa aircraft at the airport in Frankfurt, Germany

Cabin crew at Lufthansa have voted overwhelmingly in favour of a deal to stop pay rises and cut hours, the UFO trade union said on Saturday as the German airline battles to rein in losses due to the coronavirus pandemic.

Lufthansa reached the deal in June with UFO, which represents 22,000 cabin crew, to reap more than 500 million euros (452.5 million pounds) in savings from shorter hours and an equivalent cut in pay as well as a temporary reduction in pension contributions.

Last week, the airline put German workers on notice of compulsory layoffs, saying the slump in travel and slow progress in union negotiations meant cuts were unavoidable after the carrier lost 1.7 billion euros in a single quarter.

Lufthansa, which in June received a 9 billion euro government bailout to secure its future, said last week it expected capacity to recover to only around 50% of normal by the end of 2020 and to two thirds of last year's level in 2021.

Lufthansa said on Thursday it had walked away from talks with union Verdi on behalf of 35,000 ground staff over a package to cut staff costs and would only return to the negotiating table if Verdi offers significant cost savings.

(Reporting by Emma Thomasson and Georg Merziger; Editing by Andrew Cawthorne)

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Financials
Sales 2020 17 063 M 19 846 M 19 846 M
Net income 2020 -5 021 M -5 841 M -5 841 M
Net Debt 2020 11 709 M 13 619 M 13 619 M
P/E ratio 2020 -0,78x
Yield 2020 0,16%
Capitalization 4 356 M 5 074 M 5 067 M
EV / Sales 2020 0,94x
EV / Sales 2021 0,61x
Nbr of Employees 129 356
Free-Float 82,1%
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Technical analysis trends DEUTSCHE LUFTHANSA AG
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Income Statement Evolution
Consensus
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Mean consensus SELL
Number of Analysts 22
Average target price 5,74 €
Last Close Price 7,29 €
Spread / Highest target 93,5%
Spread / Average Target -21,3%
Spread / Lowest Target -72,6%
EPS Revisions
Managers
NameTitle
Carsten Spohr Chairman-Executive Board & CEO
Karl-Ludwig Kley Chairman-Supervisory Board
Roland Schütze Chief Information Officer
Christine Behle Deputy Chairman-Supervisory Board
Christina Weber Member-Supervisory Board
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