Deutsche Lufthansa Expects Ticket Demand to Remain High for Rest of Year

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By Kim Richters

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Deutsche Lufthansa AG on Thursday detailed its outlook for the year, forecasting continuing high ticket demand after it swung to profit in the second quarter.

The German carrier sees adjusted earnings before interest and taxes at above 500 million euros ($508.3 million) for the full year, which it said was in line with market expectations. The company reported an adjusted EBIT loss of EUR2.35 billion for 2021.

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It also expects clearly positively adjusted free cash flow for the year and offered capacity at the passenger airlines should be at around 75% on average.

“Despite the need for some flight cancellations to stabilize operations, the company will continue to expand capacity in line with demand and plans to offer around 80 percent of its pre-crisis capacity in the third quarter of 2022,” it said.

Lufthansa also specified preliminary results published in July, reporting quarterly revenue rising strongly to EUR8.46 billion from EUR3.21 billion and adjusted EBIT of EUR393 million compared with a loss of EUR827 million the year prior. Net profit came in at EUR259 million compared with a EUR756 million.

It posted an adjusted EBIT loss at its passenger airlines for the second quarter of EUR86 million, narrowed from a prior-year loss of EUR1.2 billion. “Between April and June, the result was burdened by 158 million euros of irregularity cost in relation to disruptions in the flight operations,” it said.

Write to Kim Richters at [email protected]

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Credit: www.marketwatch.com /

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