Lufthansa: cuts 2024 earnings forecast
(CercleFinance.com) - On Friday, Lufthansa lowered its operating profit forecast for fiscal 2024, citing a recent drop in passenger traffic in Asia.
The German airline now expects adjusted EBIT of between E1.4bn and E1.8bn this year, compared with its previous target of around E2.2bn.
Its FCF is now expected to be well below the E1bn mark in 2024, compared with its previous forecast of 'at least' E1bn.
Following these adjustments, Lufthansa shares on the Frankfurt stock exchange lost around 2% on Friday afternoon.
Lufthansa, which also reported provisional Q2 results, said it had generated adjusted Ebit of E686m, compared with a profit of E1.1bn a year earlier.
Lufthansa's profit warning follows one issued by Air France-KLM earlier this month, and disappointing forecasts from US-based Delta yesterday.
The company expects to publish its final Q2 results on 31 July.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The German airline now expects adjusted EBIT of between E1.4bn and E1.8bn this year, compared with its previous target of around E2.2bn.
Its FCF is now expected to be well below the E1bn mark in 2024, compared with its previous forecast of 'at least' E1bn.
Following these adjustments, Lufthansa shares on the Frankfurt stock exchange lost around 2% on Friday afternoon.
Lufthansa, which also reported provisional Q2 results, said it had generated adjusted Ebit of E686m, compared with a profit of E1.1bn a year earlier.
Lufthansa's profit warning follows one issued by Air France-KLM earlier this month, and disappointing forecasts from US-based Delta yesterday.
The company expects to publish its final Q2 results on 31 July.
Copyright (c) 2024 CercleFinance.com. All rights reserved.