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DEUTSCHE LUFTHANSA AG

(LHA)
  Report
Delayed Xetra  -  11:35 2022-09-30 am EDT
5.918 EUR   +1.74%
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Lufthansa agrees deal to avert strikes

08/05/2022 | 10:13am EDT

STORY: Lufthansa has sealed a deal to avert further strikes by ground staff.

Management and unions confirmed the agreement late Thursday (August 4).

It comes as airlines across Europe face labor strife.

The rapid rebound in tourism has left them facing staff shortages, sparking chaos at airports.

Soaring inflation has also prompted workers to demand higher wages.

Lufthansa's new deal includes pay hikes this year and next.

The biggest increases will go to staff on lower incomes.

Unions say some workers at check-in counters will see their wages jump by almost a fifth.

That should mean real-terms increases for many staff, even in the face of rising inflation.

But the deal doesn't end Lufthansa's labor troubles.

It's due to hold more talks next week with pilots, who have already voted for strike action.

This week, Lufthansa said it expected short-haul demand in Europe to help drive a return to profit for the group.

Shares in the airline rose over 3% in Friday (August 5) trade following news of the deal.


© Reuters 2022
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Analyst Recommendations on DEUTSCHE LUFTHANSA AG
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Financials
Sales 2022 31 036 M 30 433 M 30 433 M
Net income 2022 216 M 212 M 212 M
Net Debt 2022 7 900 M 7 747 M 7 747 M
P/E ratio 2022 36,4x
Yield 2022 -
Capitalization 7 075 M 6 938 M 6 938 M
EV / Sales 2022 0,48x
EV / Sales 2023 0,45x
Nbr of Employees 106 296
Free-Float 83,4%
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Mean consensus HOLD
Number of Analysts 15
Last Close Price 5,92 €
Average target price 7,13 €
Spread / Average Target 20,5%
EPS Revisions
Managers and Directors
Carsten Spohr Member-Management Board
Remco J. Steenbergen Chief Financial Officer
Karl-Ludwig Kley Head-Finance Division
Ola Hansson Chief Operating Officer
Christine Behle Vice Chairman-Supervisory Board
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