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DEUTSCHE LUFTHANSA AG

(LHA)
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Deutsche Lufthansa : Lufthansa to purchase 10 long-haul aircraft to modernize fleet

05/03/2021 | 03:32pm EDT
FILE PHOTO: Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany

FRANKFURT, May 3 (Reuters) - Deutsche Lufthansa AG on Monday said it would purchase five long-haul aircraft each from Airbus and Boeing to replace older Airbus A340 planes and increase its fleet's fuel efficiency.

Top management and the non-executive board cleared the purchase of five Boeing B787-9 planes scheduled to come into service as early as next winter and in the first half of 2022 as well as five Airbus A350-900 planes for delivery in 2027 and 2028.

The earlier start for the Boeing planes was possible as they had already been manufactured for other airlines that could not take delivery because of the impact of the coronavirus pandemic on the travel industry.

Lufthansa said the new aircraft will consume about 2.5 liters of jet fuel per passenger and 100 kilometers flown, about 30 percent less than many current as well as previously operated long-haul aircraft models.

The investment was in line with conditions set by the German state as part of a government bail-out deal and also in line with the carrier's policy not to invest more than depreciation and amortization. (Reporting by Ludwig Burger Editing by Chris Reese and Grant McCool)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE 1.67% 98.37 Real-time Quote.9.57%
DEUTSCHE LUFTHANSA AG 2.80% 11.238 Delayed Quote.3.91%
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Financials
Sales 2021 17 483 M 21 257 M 21 257 M
Net income 2021 -2 367 M -2 878 M -2 878 M
Net Debt 2021 13 574 M 16 505 M 16 505 M
P/E ratio 2021 -2,88x
Yield 2021 -
Capitalization 6 717 M 8 164 M 8 167 M
EV / Sales 2021 1,16x
EV / Sales 2022 0,72x
Nbr of Employees 111 262
Free-Float 79,0%
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Number of Analysts 23
Average target price 7,93 €
Last Close Price 11,24 €
Spread / Highest target 42,4%
Spread / Average Target -29,5%
Spread / Lowest Target -82,2%
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NameTitle
Carsten Spohr Chairman-Executive Board & CEO
Remco J. Steenbergen Chief Financial Officer
Karl-Ludwig Kley Chairman-Supervisory Board
Roland Schütze Chief Information Officer
Christine Behle Deputy Chairman-Supervisory Board
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