In its meeting today, Deutsche Lufthansa AG’s Executive Board adjusted its earnings forecast for the current financial year to the latest developments. It is now expecting that the Group will earn an operating profit at the upper end of the three-digit million Euro range. However, as viewed currently, the target of a further increase on the previous year’s figure (EUR 876m) no longer appears to be achievable.
The adjustment undertaken reflects a weaker than expected monthly result for August reported by the Passenger Airline Group. In view of ongoing economic uncertainties, further booking trend expectations were also adjusted.
Against the background of the increased sales risks, a package of measures was decided at the same time that provides for a further reduction in scheduled capacities in the 2011/12 winter timetable.