DEUTSCHE LUFTHANSA AG

(LHA)
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Delayed Xetra  -  11:35 2022-08-12 am EDT
6.588 EUR   +0.95%
08/09Brussels airlines improves half-year result 2022 by 38% to -89 million euro ebit
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Lufthansa expects flight operations to return to normal in 2023 - Welt

06/25/2022 | 12:03am EDT
Ukrainian refugees arrive at Frankfurt Airport

BERLIN (Reuters) - Lufthansa does not expect its global airline operations to return to normal until 2023 after staff shortages and booming demand amid the lifting of COVID-19 restrictions forced it to cancel some flights, Die Welt newspaper reported on Saturday.

"Unfortunately, a short-term improvement now in the summer is hardly realistic," Lufthansa board member Detlef Kayser told Die Welt, adding the problem is global rather than exclusive to Germany and the only way out is to reduce the number of flights.

Lufthansa has announced plans to scrap around 3,000 flights, or some 15% of its capacity, at its hubs in Frankfurt and Munich this summer.

The German flag carrier is trying to ensure vacation routes are affected as little as possible, opting to cancel instead short- and medium-haul flights with many alternative travel options, Kayser told Die Welt.

(Reporting by Zuzanna Szymanska;Editing by Elaine Hardcastle)


© Reuters 2022
All news about DEUTSCHE LUFTHANSA AG
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Financials
Sales 2022 31 248 M 32 040 M 32 040 M
Net income 2022 190 M 195 M 195 M
Net Debt 2022 7 787 M 7 984 M 7 984 M
P/E ratio 2022 57,9x
Yield 2022 -
Capitalization 7 876 M 8 075 M 8 075 M
EV / Sales 2022 0,50x
EV / Sales 2023 0,48x
Nbr of Employees 106 296
Free-Float 73,5%
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Mean consensus HOLD
Number of Analysts 18
Last Close Price 6,59 €
Average target price 7,09 €
Spread / Average Target 7,66%
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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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