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

DEUTSCHE LUFTHANSA AG

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Deutsche Lufthansa : Lufthansa's Swiss unit could cut 15% of jobs - Sonntagszeitung

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09/13/2020 | 01:39pm EDT
FILE PHOTO: Members of the VPOD public services workers union display placards during a demonstration in front of Zurich Airport

Lufthansa's Swiss unit could cut up to 15% of its 9,500 jobs if it cannot agree salary cuts with staff as it seeks to meet strict savings targets in the wake of the coronavirus crisis, Swiss weekly Sonntagszeitung said on Sunday.

"It is our target to get through the crisis with as many employees as possible," the paper quoted a spokesman for Swiss as saying. "We have to cut costs by around 20%. We are not only focusing on personnel costs, but on every unit of the company."

Swiss did not immediately reply to a Reuters request for comment.

There has been a first round of negotiations on temporary adjustments to working conditions and an overhaul of the benefits plan, a spokesman for Swiss union VPOD which represents ground staff told Reuters.

"Swiss has declared that it must achieve 15% cost savings. How this will be achieved is not yet clear," he said.

Swiss parent Lufthansa has pledged a restructure ranging from thousands of job cuts to asset sales, as it seeks to repay a 9 billion euro ($11 billion) state bailout and navigate deepening losses in the face of the pandemic.

The Swiss parliament in May backed 1.275 billion Swiss francs ($1.40 billion) in aid for Swiss to help curb revenue losses from the coronavirus pandemic.

(Reporting by Kirsti Knolle; Editing by Alexandra Hudson)


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Financials
Sales 2020 16 118 M 18 769 M 18 769 M
Net income 2020 -5 250 M -6 114 M -6 114 M
Net Debt 2020 11 969 M 13 938 M 13 938 M
P/E ratio 2020 -0,75x
Yield 2020 -
Capitalization 4 407 M 5 135 M 5 131 M
EV / Sales 2020 1,02x
EV / Sales 2021 0,66x
Nbr of Employees 129 356
Free-Float 83,3%
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Mean consensus SELL
Number of Analysts 22
Average target price 5,57 €
Last Close Price 7,37 €
Spread / Highest target 91,3%
Spread / Average Target -24,5%
Spread / Lowest Target -79,7%
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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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