Lufthansa Q2 revenue at €9.63B, up 4% YoY

Tuesday, 30. July 2019 07:06

Lufthansa AG's revenue in the second quarter amounted to €9.63 billion, 4% higher than the same period last year and beating analysts' expectations. Lufthansa adjusted EBIT for the second quarter amounted to a loss of €754 million, falling 25% versus 2018 Q2. The company said its net profit stood at €226 million, where as the figure in the same quarter last year was €752 million. Earnings per share stood at €0.48, down 70% from last year's €1.59 as adjusted EBIT margin slipped 2.9 points to 7.9%

The number of flights increased 2% to 311,472, accompanied by a 3% rise in the number of passengers transported. Cargo load factor fell 5.9 points, from 65.7% in the second quarter last year to 59.8% in the latest quarter.

"Our earnings are feeling the effects of tough competition in Europe and sizable overcapacities, especially on our short-haul routes out of Germany and Austria," chief financial officer Ulrik Svensson said in the press release. "We are responding to this by further reducing our costs and increasing our flexibility. And with the turnaround plan which we recently presented, we also intend to make Eurowings a sustainably profitable airline," he added.

Related Links: Deutsche Lufthansa AG
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Breaking the News / MD