Deutsche Lufthansa AG

Deutsche Lufthansa is an aviation group based in Germany. Co. maintains global operations and a total of more than 500 subsidiaries and associated companies. Co. operates in five major business segments: scheduled passenger air traffic ("Passenger Airline Group"); scheduled airfreight services ("Logistics"); maintenance, repair and overhaul ("MRO"); information technology ("IT Services") and catering ("Catering").
  • TickerLHA
  • ISINDE0008232125
  • SectorTravel & Leisure
  • CountryGermany
Olfa Taamallah ...
  • Yan Derocles

Lufthansa : Results slightly-better-than anticipated but a slow recovery expected

>Q2 broadly in line with highest expectations - Lufthansa Group has reported Q2 2020 earnings, generally in line with upper bound forecasts, as the consensus is highly dispersed. Despite significant cost reductions, adjusted EBIT totalled -€ 1,679m (ODDO BHF: -€ 1,660m; consensus average:-€ 1,961m), compared to a € 754m adjusted EBIT in Q2 2019, 1% below our expectations and 14% above those of the consensus. Sales this quarter are down 80% y-o-y, mostly generated by ...

Alain William

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/06/2020

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Alain William

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/08/2020

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Olfa Taamallah ...
  • Yan Derocles

Lufthansa : Results slightly-better-than anticipated but a slow recovery expected

>Q2 broadly in line with highest expectations - Lufthansa Group has reported Q2 2020 earnings, generally in line with upper bound forecasts, as the consensus is highly dispersed. Despite significant cost reductions, adjusted EBIT totalled -€ 1,679m (ODDO BHF: -€ 1,660m; consensus average:-€ 1,961m), compared to a € 754m adjusted EBIT in Q2 2019, 1% below our expectations and 14% above those of the consensus. Sales this quarter are down 80% y-o-y, mostly generated by ...

Increased risk weighs on DEUTSCHE LUFTHANSA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of DEUTSCHE LUFTHANSA (DE), active in the Airlines industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date July 31, 2020, the closing price was EUR 7.47 and its target price was estimated at EUR 6.65.

Jérôme VINERIER

Short term view - LUFTHANSA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €17.30. The background trend would be questioned should prices rise above €23.50.

Jérôme VINERIER

Analyse court terme - LUFTHANSA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 17,30 €. La tendance de fond serait remise en cause en cas de franchissement de 23,50 €.

Jérôme VINERIER

Analyse court terme - LUFTHANSA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 17,300 €. La tendance de fond serait remise en cause en cas de franchissement de 23,500 €.

Jérôme VINERIER

Short term view - LUFTHANSA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €17.300. The background trend would be questioned should prices rise above €23.500.

Jérôme VINERIER

Medium term view - LUFTHANSA : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

Deutsche Lufthansa Ag: 1 director bought

A director at Deutsche Lufthansa Ag bought 13,787 shares at 11.559EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names...

Olfa Taamallah ...
  • Yan Derocles

Lufthansa : Results slightly-better-than anticipated but a slow recovery expected

>Q2 broadly in line with highest expectations - Lufthansa Group has reported Q2 2020 earnings, generally in line with upper bound forecasts, as the consensus is highly dispersed. Despite significant cost reductions, adjusted EBIT totalled -€ 1,679m (ODDO BHF: -€ 1,660m; consensus average:-€ 1,961m), compared to a € 754m adjusted EBIT in Q2 2019, 1% below our expectations and 14% above those of the consensus. Sales this quarter are down 80% y-o-y, mostly generated by ...

Olfa Taamallah ...
  • Yan Derocles

Lufthansa : Results slightly-better-than anticipated but a slow recovery expected

>Q2 broadly in line with highest expectations - Lufthansa Group has reported Q2 2020 earnings, generally in line with upper bound forecasts, as the consensus is highly dispersed. Despite significant cost reductions, adjusted EBIT totalled -€ 1,679m (ODDO BHF: -€ 1,660m; consensus average:-€ 1,961m), compared to a € 754m adjusted EBIT in Q2 2019, 1% below our expectations and 14% above those of the consensus. Sales this quarter are down 80% y-o-y, mostly generated by ...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Qu’il est loin le temps du surbooking…

Si la trajectoire de retour des capacités en Chine a pu alimenter l’espoir, nous anticipons une reprise une nouvelle fois décalée dans le temps avec une chute du trafic de 60% en 2020 et un rebond limité à 40% en 2021. Les multiples relativement élevés rendent les titres vulnérables à d’éventuelles déceptions ce qui nous pousse à être sélectif. Nous privilégions les valeurs défense comme Thales et Leonardo. Airbus est notre seule recommandation positive sur le civil. Dans l’aérie...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Olfa Taamallah ...
  • Yan Derocles

ODDO : Overbooking now seems like a distant memory...

While the trajectory of the return of capacity in China may have kindled hope, we anticipate a further postponement of the recovery, with a 60% fall in traffic in 2020 and a rebound of just 40% in 2021. The relatively high multiples make the stocks vulnerable to potential disappointments, which leads us to be selective. We prefer defence stocks such as Thales and Leonardo. Airbus is our only positive recommendation in the civil aerospace segment. In the airline segment, we confir...

Delphine Chauvin

Air France-KLM : Le secteur a besoin d’être réanimé

L’IATA estime que le Covid-19 va faire perdre plus de 300 mds USD de revenus au transport aérien en 2020 et il est évident que les compagnies européennes font face à une crise d’une violence difficilement imaginable il y a quelques mois, sans commune mesure avec l’impact du SRAS en 2003 ou de la crise financière en 2008, pour lesquelles elles avaient déjà mis plusieurs années à se remettre. - Sans aides, plusieurs d’entre elles risquent la faillite, et même les plus solides prédis...

Delphine Chauvin

Air France-KLM : The sector needs reviving

With the IATA estimating that Covid-19 will result in more than $ 300bn of lost revenues for the air transport sector in 2020, European airlines clearly face a crisis of a severity hard to imagine a few months ago, far surpassing the impacts of SARS in 2003 or the financial crisis in 2008, which took them several years to recover from. - Without aid, several of them are at risk of going out of business, and even the most solid carriers forecast unprecedented cash burn. - There are a...

Deutsche Lufthansa Aktiengesellschaft - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Deutsche Lufthansa Aktiengesellschaft: Lufthansa's stronger than expected 2017 results are credit positive; deleveraging much faster than anticipated

Lufthansa's 2017 financial results significantly improved compared to 2016 and were stronger than we anticipated.

Deutsche Lufthansa Aktiengesellschaft - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  Deutsche Lufthansa Aktiengesellschaft - September 2017 (LTM) 14 December 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Sep-17

Alain William

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 08/06/2020

...

Alain William

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/08/2020

...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/25/2020

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Alexandre Iatrides ...
  • Benoit Valleaux
  • Charles Lepetitpas
  • Emmanuel Matot
  • Jean Sassus
  • Jean Danjou
  • Laurence Hofmann
  • Martial Descoutures
  • Nicolas David
  • Olfa Taamallah
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/06/2020

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Fatma Agnès Hamdani ...
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Olfa Taamallah
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/04/2020

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Increased risk weighs on DEUTSCHE LUFTHANSA, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of DEUTSCHE LUFTHANSA (DE), active in the Airlines industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date July 31, 2020, the closing price was EUR 7.47 and its target price was estimated at EUR 6.65.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

Expert Corporate Governance Service (ECGS)

Deutsche Lufthansa – EGM 25 June 2020

General: The EGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company.Item 1: The Management Board and the Supervisory Board propose that the following stabilisation measures under the German Stabilisation Fund Act for the recapitalisation of the Company be adopted: i) a capital increase by EUR 306,044,3...

Expert Corporate Governance Service (ECGS)

Deutsche Lufthansa – AGM 5 May 2020

WARNING: Due to the COVID-19 pandemic, the AGM will take place but no shareholders will be allowed to attend personally. Shareholders are invited to vote by proxy, via the independent representative or electronically.   Item 2: On 13 March 2020, Lufthansa announced to suspend the dividend for 2019, taking into account the Groupns financial outlook and the exceptional crisis the aviation industry is facing. The Group's fundamental policy of distributing 20% to 40% of net profit remains unaffected. The proposal reflects the focus on preserving liquidity. In view of the recent events relating t...

Expert Corporate Governance Service (ECGS)

Deutsche Lufthansa - AGM 07 May 2019

Item 6: Approval is sought for the new remuneration system for the Management Board which is applicable since financial year 2019. The new remuneration system is considered as an improvement compared to the previous remuneration system due to a reduction of complexity and the introduction of share ownership guidelines. However, we have concerns over the increase in the base salary of the CEO by 18%, which we consider as inadequately high, as well as over the absolute level and structure of remuneration being paid to Management Board members: The maximum total remuneration (excluding pension be...

Lufthansa – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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