Lufthansa Group reports preliminary results for the third quarterSimon C. Pitt2020-11-020 viewsAirline Revenue Management0 Comments0 views 0 Tweet The corona crisis continued to have a considerable impact on Lufthansa Group’s earnings development in the third quarter of 2020. However, due to an expansion of the flight schedule in the summer months of July and August and considerable cost reductions, losses were reduced compared to the second quarter. On a preliminary basis, Adjusted EBIT in the third quarter was EUR -1,262 million (previous year: EUR 1,297 million). After nine months, the operating loss was EUR -4,161 million (previous year: EUR 1,715 million). The Adjusted free cash flow for the first nine months of 2020 amounted to EUR -2,579 million (previous year: EUR 685 million). In the third quarter, Adjusted free cash flow was EUR -2,069 million (previous year: EUR 416 million). Payments of EUR 2.0 billion for corona-related flight cancellations were partly offset in the third quarter by cash inflows from the expansion of flight activities in July and August. The Group also benefited from strict working capital management and the postponement of tax payments. Net debt at the end of the third quarter was EUR 8,930 million (December 31, 2019: EUR 6,662 million). Source: Airline Revenue Management Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)Like this:Like Loading... Related