Lufthansa : Tight rein on costs and a healthy balance sheet
>Unit costs remain under control despite lag in return of capacity - Lufthansa kept a tight rein on its unit costs excl. fuel in Q3 (+0.1% excl. forex and -0.9% incl. forex) and anticipates a similar trend in Q4. Despite a delay in bringing capacity back on line (12% below 2019 levels in Q3 vs -6.2% for Air France-KLM and -4.4% for IAG), we calculate that the company has clocked up the strongest performance amongst the majors relative to its 2019 CASK ex-fuel level (...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").
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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