Lufthansa Group feels financial impact of strike action

Ahead of the publication of its Q1 2024 financial results, the Lufthansa Group has noted a ‘higher than expected’ loss of €849 million ($902 million) for the period, citing ‘various strikes, both by different employee groups within the Group and by employees at system partners’. These impacted earnings by around €350 million ($372 million), estimates Lufthansa. Although the Group’s adjusted free cash flow was positive at €305 million ($324 million), ‘mainly due to continued high inflows from advance ticket payments,’ the full year’s adjusted EBIT is now predicted to be around €2.2bn ($2.34bn). Operating results in Q2 2024 are also