TELETRADER News
8/6, 7:04 AM (Source: TeleTrader)
more TeleTrader news

Lufthansa's revenue in Q2 €1.9B, down 80% YoY

Deutsche Lufthansa AG reported on Wednesday that its total revenue in the second fiscal quarter of 2020 landed at €1.894 billion, 80% less than in the same period the previous year. The company's operating expenses in the same period decreased by 59% year-over-year to stand at €3.9 billion. In the fiscal year's second quarter, Lufthansa's net loss amounted to €1.493 billion, or €3.12 per share.

Mostly due to the coronavirus travel restrictions, the number of flights operated by the company fell a whopping 94% compared to the same period a year before, and came up to 18,730, while the number of passengers followed suit and plummeted 96%.

"The coronavirus pandemic has had an impact on the aviation industry unlike any seen before. Hardly any other sector has been more affected by the impact of the global crisis, and almost no other sector will take longer to recover," the Lufthansa Executive Board said in a statement.

Breaking the News / BU