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

DEUTSCHE LUFTHANSA AG

(LHA)
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Lufthansa could cut more planes and jobs than planned: sources

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09/15/2020 | 01:13pm EDT
FILE PHOTO: An Airplane of German carrier Lufthansa takes off from Munich International Airport

German airline Lufthansa could cut its fleet by 130 planes in response to the coronavirus crisis, two people familiar with the matter said.

Such a cut would mean a reduction of at least 30 planes more than the recently bailed-out airline had planned previously.

Lufthansa Chief Executive Carsten Spohr informed staff on Monday that the airline's management would make a decision about the move in the coming week, the people told Reuters.

The number of workers at Lufthansa, which stood at around 140,000 before the coronavirus crisis hit the airline sector, is likely to have to be reduced by a fifth, the sources said.

This would equate to 28,000 positions, slightly more than the 26,000 under previous plans to weather the crisis.

A Lufthansa spokesman declined to comment, saying there had been no decision on the matter.

Lufthansa, which in June received a 9 billion euro ($10.7 billion) government bailout, said last month 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.

(Reporting by Ilona Wissenbach and Klaus Lauer; Writing by Christoph Steitz; Editing by Alexander Smith)

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Financials
Sales 2020 17 226 M 20 041 M 20 041 M
Net income 2020 -4 975 M -5 788 M -5 788 M
Net Debt 2020 11 709 M 13 622 M 13 622 M
P/E ratio 2020 -0,75x
Yield 2020 0,18%
Capitalization 4 214 M 4 896 M 4 903 M
EV / Sales 2020 0,92x
EV / Sales 2021 0,60x
Nbr of Employees 129 356
Free-Float 82,1%
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Technical analysis trends DEUTSCHE LUFTHANSA AG
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus SELL
Number of Analysts 21
Average target price 5,80 €
Last Close Price 7,05 €
Spread / Highest target 100%
Spread / Average Target -17,7%
Spread / Lowest Target -71,6%
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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