Deutsche Lufthansa said earnings will not advance in 2024 and that the first-quarter loss will widen from last year as the company grapples with strike disruptions and the ebbing of a cargo boom that took hold during the pandemic.
The German airline group has seen operations disrupted by waves of strikes, including a two-day walkout this week that disabled flights across Europe’s largest economy. The renewed flare-up of labour disputes is reminiscent of lengthy battles that Lufthansa waged for years with groups like pilots before the pandemic, as employees once again demand a greater slice of profits derived from resurgent demand.Lufthansa was little changed in Frankfurt trading on Thursday.
The company said its adjusted operating loss in the first quarter would be higher than in the previous year, when the deficit reached €273 million. At the same time, the load factor for the next three months exceeds last year’s level, highlighting continued demand for tickets.
Source: News Formal (newsformal.com)