Lufthansa : Credible savings on the horizon but capital increase in prospect
>Credible gross cost savings... - The € 3.5bn identified by Lufthansa out to 2024, i.e. c.13% of opex excluding fuel and D&A in 2019, are entirely credible, in our view, although with an anticipated acceleration on a full-year basis as of 2023 due to the planned deadline for the finalisation of numerous discussions that are currently underway with the different categories of personnel. The payroll component should contribute 51% to the total amount of savings, of whic...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").
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