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DEUTSCHE LUFTHANSA AG

(LHA)
  Report
Delayed Xetra  -  11:35 2022-10-06 am EDT
6.030 EUR   +0.50%
11:11aFactbox-Europe's travel disruption stretches into autumn
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10/05About 30,000 passengers likely to be affected by Eurowings pilot strike
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Worst flight chaos over, Lufthansa board member tells Funke media

08/06/2022 | 07:22pm EDT
FILE PHOTO: Lufthansa ground staff in Germany go on strike over 9.5% pay claim, in Munich

BERLIN (Reuters) - The worst is over for German airline Lufthansa after staff shortages caused flight chaos over the summer, but levels of sick leave remain challenging, board member Christina Foerster told newspapers in the Funke Media group.

Airlines across Europe have struggled to cope with a strong rebound in holiday season demand after the COVID-19 pandemic stopped much travel. Many airports faced huge queues due to staff shortages, prompting last-minute cancellations.

"The low point has passed. Flight operations are largely stabilized," Foerster was quoted as telling Funke in an interview published on Sunday.

"Nevertheless, this summer we are dealing with a level of sick leave that is not easy to offset," said Foerster, adding the situation remained challenging.

Most flight cancellations are affecting domestic routes where there are alternatives, she said. She added, however, that the situation would only improve significantly with the winter flight schedule at the end of October.

Lufthansa said on Thursday it expected demand for short-haul flights in Europe to drive growth at its passenger airlines this year and forecast a return to group operating profit for the full year.

(Reporting by Madeline Chambers; Editing by Christina Fincher)


© Reuters 2022
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Analyst Recommendations on DEUTSCHE LUFTHANSA AG
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Financials
Sales 2022 31 128 M 30 593 M 30 593 M
Net income 2022 216 M 212 M 212 M
Net Debt 2022 8 237 M 8 096 M 8 096 M
P/E ratio 2022 39,0x
Yield 2022 -
Capitalization 7 209 M 7 085 M 7 085 M
EV / Sales 2022 0,50x
EV / Sales 2023 0,44x
Nbr of Employees 106 296
Free-Float 83,4%
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Mean consensus HOLD
Number of Analysts 15
Last Close Price 6,03 €
Average target price 7,03 €
Spread / Average Target 16,6%
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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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