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In the fourth quarter, capacity is planned to further increase to an average of around 55 percent (short- and medium-haul) and around 50 percent (long-haul). (awp/sda/dpa) Der Zusammenbruch des Flugverkehrs in der Corona-Krise hat der Lufthansa im zweiten Quartal einen weiteren Milliardenverlust eingebrockt. As a result of the capital increase, with which the WSF has acquired a 20 percent stake in the company's share capital, the Lufthansa Group received cash of around 300 million euros. Revenue of €1.89B (-80.3% Y/Y). The loss of cargo capacity in passenger aircraft ("bellies") led to a significant increase in yields. The Lufthansa Group net result for the first half of the year thus amounted to minus 3.6 billion euros (previous year: minus 116 million euros). In the entire first half of 2020, Lufthansa Group revenue fell by 52 percent to 8.3 billion euros (previous year: 17.4 billion euros). The Group's fleet is to be permanently reduced by at least 100 aircraft. Thanks to a high degree of flexibility in supply and capacity planning, this figure can also vary at short notice.Despite the capacity expansion, the Lufthansa Group also expects a clearly negative Adjusted EBIT in the second half of 2020 and thus a further significant decline in Adjusted EBIT for the full year. The funds agreed with the Economic Stabilization Fund of the Federal Republic of Germany (WSF) to stabilize Lufthansa Group are not yet included in the liquidity figures as of 30 June 2020. Cash outflows since the balance sheet date related primarily to the payment of refund claims for cancelled flights. Lufthansa passengers still unsure if strike will cancel their flights The German airline has grounded 1,300 flights in total on Thursday and Friday, affecting 180,000 passengers News & Advice

The Group's fleet is to be permanently reduced by at least 100 aircraft. In addition, the negative market value development of fuel cost hedging contracts had a negative impact of 782 million euros on the financial result in the first six months of the year. The program includes the reduction of 22,000 full-time jobs in the Lufthansa Group. Lufthansa Group currently (as of 30 June 2020) has 129,400 employees, about 8,300 fewer than at the same time last year. Die Lufthansa hat das zweite, von der Corona-Pandemie besonders belastete Quartal mit einem milliardenschweren Verlust abgeschlossen. The adjusted free cash flow for the first half of the year thus amounted to minus 510 million euros (previous year: 269 million euros).

To provide you with a more responsive and personalized service, this site uses cookies. Revenue of €1.89B (-80.3% Y/Y). Adjusted EBIT amounted to minus 2.9 billion euros (previous year: 418 million euros) and EBIT to minus 3.5 billion euros (previous year: 417 million euros). Including these funds amounting to 9 billion euros, the Group had a total of 11.8 billion euros in liquidity available as of 30 June 2020.Since the beginning of July, the Group has received 2.3 billion euros from the stabilization package.
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As a result of the corona crisis, the group has lost billions and plans to cut 22,000 jobs. Freight capacity offered fell by 36 percent and cargo kilometres sold by 32 percent. In July, the Group gradually increased its offering to around 20 percent of the previous year's level, with load factors of over 70 percent in European short-haul traffic. I have read and accept the terms of the The collapse in demand for air travel due to the Corona pandemic led to an 80 percent drop in revenue for the Lufthansa Group in the second quarter to 1.9 billion euros (previous year: 9.6 billion euros). This resulted in an increase in cargo load factor by 4 percentage points to 66 percent. The Group currently expects demand for air travel to return to pre-crisis levels in 2024 at the earliest. As a result of the capital increase, with which the WSF has acquired a 20 percent stake in the company's share capital, the Lufthansa Group received cash of around 300 million euros. This primarily concerns short-haul leisure travel. Freight capacity offered fell by 54 percent due to a lack of capacity on passenger aircraft. Capacity decreased by 61 percent.
The program includes the reduction of 22,000 full-time jobs in the Lufthansa Group. In the administration of Deutsche Lufthansa AG, 1,000 jobs will be cut. As expected, Lufthansa ended the second quarter, which was particularly hard hit by the Corona crisis, with a loss worth billions. Adjusted EBIT amounted to minus 2.9 billion euros (previous year: 418 million euros) and EBIT to minus 3.5 billion euros (previous year: 417 million euros).