BRIEF-Deutsche Lufthansa Says Proposes To Suspend Dividend, Decides On Measures To Limit Financial Impact Of Corona Crisis [Reuters]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
NASDAQ:AMEX Investor Relations:
investor-relations.lufthansagroup.com/en.html
Company Research
Source: Reuters
BRIEF-Deutsche Lufthansa Says Proposes To Suspend Dividend, Decides On Measures To Limit Financial Impact Of Corona Crisis March 13 (Reuters) - Deutsche Lufthansa Ag: * DGAP-ADHOC: DEUTSCHE LUFTHANSA AG: THE EXECUTIVE BOARD PROPOSES TO SUSPEND THE DIVIDEND PAYMENT AND DECIDES ON FURTHER MEASURES TO LIMIT THE FINANCIAL IMPACT OF THE CORONA CRISIS * DECIDED TO PROPOSE TO ANNUAL GENERAL MEETING THAT DIVIDEND PAYMENT FOR FINANCIAL YEAR 2019 SHALL BE SUSPENDED * OVER NEXT FEW WEEKS, FLIGHT SCHEDULE MAY BE REDUCED FURTHER BY UP TO 70 PERCENT COMPARED TO ORIGINAL PLAN * DEUTSCHE LUFTHANSA - DESPITE THESE COUNTERMEASURES, GROUP EXPECTS ADJUSTED EBIT IN 2020 TO BE SIGNIFICANTLY BELOW PRIOR-YEAR RESULT * DEUTSCHE LUFTHANSA -REDUCING MATERIAL, PROJECT COSTS, INTENDS TO IMPLEMENT REDUCED WORKING HOURS AND NEGOTIATING POSTPONEMENT OF PLANNED INVESTMENTS * GROUP’S FUNDAMENTAL POLICY OF DISTRIBUTING 20 TO 40 PERCENT OF NET PROFIT REMAINS UNAFFECTED * GROUP HAS RAISED ADDITIONAL FUNDS OF AROUND EUR 6
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