Lufthansa soars 7% on upbeat preliminary Q3 results

Dienstag, 20. Oktober 2020 16:06

Shares of Lufthansa AG surged over 7% on Tuesday after the company unveiled its preliminary results for the third fiscal quarter that could beat market expectations.

According to the statement, the airline's losses in the third semester are set to be lower compared to the previous quarter "due to an expansion of the flight schedule in the summer months of July and August and considerable cost reductions." The Lufthansa Group's airlines will offer "a maximum of 25% of the previous year's capacity in the fourth quarter to ensure that flight operations continue to generate a positive cash contribution."

Lufthansa's shares jumped 5.91% at 4:05 pm CET, trading for €8.45.

Related Links: Deutsche Lufthansa AG
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