Lufthansa Group positive

Whilst hardly bullish Lufthansa CEO Carsten Spohr, rather like his airline’s figures, was in an upturn mood in delivering the airline’s results for the second quarter.

Record results at Lufthansa Cargo and the continued recovery of Lufthansa Technik and the LSG Group, operating losses in the second quarter of 2021 declined significantly by 43% to -€952m compared to the first quarter of 2021.

In a statement the Lufthansa Group noted a significant market recovery with increasing passenger and booking numbers. Relaxation of travel restrictions in international air traffic and a great pent-up demand among passengers drove both demand and activity. In June alone, the number of bookings was more than twice as high as at the beginning of the quarter. As planned, the capacity offered at the end of June was 40% of the pre-crisis level.

Carsten Spohr, CEO of Deutsche Lufthansa AG, is quoted: "All Lufthansa employees worldwide have made great efforts to significantly lower costs in all areas. As a result, we have been able to stop the outflow of funds in the current phase of reviving our business and generate a positive cash flow for the first time since the beginning of the pandemic. The fact that more than 30,000 colleagues have left us in the process so far hurts us all, but is unavoidable to sustainably save the more than 100,000 remaining jobs. This unique crisis is also a unique opportunity for us to accelerate the transformation of Lufthansa in order to consolidate our global leadership role."

www.lufthansa.com

www.lufthansagroup.com

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