Lufthansa reports loss, cuts outlook after strikes [Yahoo! Finance]
DEUTSCHE LUFTHANSA S/ADR (DLAKY)
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investor-relations.lufthansagroup.com/en.html
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Source: Yahoo! Finance
Adjusted operating losses came in at 849 million euros ($902 million), according to preliminary results. While the start of the year is typically a quieter period for travel in Europe, the results were still far worse than a loss of 273 million euros in the same period last year. "The loss was higher than expected due to various strikes," said Lufthansa, one of Europe's biggest airline groups, adding that the walkouts had slashed earnings by hundreds of millions of euros. Lufthansa -- whose carriers include Lufthansa, Eurowings, Austrian, Swiss and Brussels Airlines -- cut the forecast for its operating profit for the whole year to 2.2 billion euros. It had previously been expecting the figure to come in broadly the same as last year, at around 2.7 billion euros. After two years of hefty losses during the pandemic, Lufthansa had racked up healthy profits in 2022 and 2023 as travel demand roared back. But the German aviation sector faced walkouts in recent months as worker
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News
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- Lufthansa, ITA to propose further remedies for EU green light to tie-up [Reuters]Reuters
- Lufthansa flight attendants accept collective bargaining agreement [Yahoo! Finance]Yahoo! Finance