Lufthansa

Preparing for the long-haul

  • Sectors : Airlines
  • Companies : Lufthansa

Ratings and price correct at time of issue.

  • Lufthansa

    Closing Price: 802c

  • RATING 08/06/20

  • PREVIOUS RATING 30/10/18

    NEUTRAL

DAVY VIEW

Having pre-released on October 20th, Lufthansa’s numbers come as no surprise (Q3 EBIT loss of -€1262m); however, the average monthly operating cash drain, excluding changes in working capital, capital expenditure and one-off and restructuring expenses, is expected to be limited to around €350m in the fourth quarter. The group remains on track for returning to a positive operating cash flow during 2021. The prerequisite for this is that the pandemic situation allows for an increase in capacity to around 50% of pre-crisis levels. Conference call is at 11.00 CET (10.00 GMT).

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Nov 5 2020, 07:00 GMT

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