Lufthansa: enough liquidity to deal with crisis
(CercleFinance.com) - Lufthansa said on Thursday that the magnitude of the expected decline of the coronavirus eidemic on its 2020 operating profit was "currently not predictable.
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"The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency," said Carsten Spohr, the chairman of its executive board.
"At present, no one can foresee the consequences," he added.
The German carrier said it is financially "well equipped" to cope with the crisis.
After raising additional funds of around 600 million euros in recent weeks, the airline currently has free cash of around 4.3 billion euros, it said.
In addition, there are unused credit lines of around 800 million euros, and further funds are currently being raised, the group added.
Lufthansa shares were up over 7% on the Frankfurt Stock Exchange on Thursday morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
"
"The spread of the coronavirus has placed the entire global economy and our company as well in an unprecedented state of emergency," said Carsten Spohr, the chairman of its executive board.
"At present, no one can foresee the consequences," he added.
The German carrier said it is financially "well equipped" to cope with the crisis.
After raising additional funds of around 600 million euros in recent weeks, the airline currently has free cash of around 4.3 billion euros, it said.
In addition, there are unused credit lines of around 800 million euros, and further funds are currently being raised, the group added.
Lufthansa shares were up over 7% on the Frankfurt Stock Exchange on Thursday morning.
Copyright (c) 2020 CercleFinance.com. All rights reserved.