Q2 2024 Deutsche Lufthansa AG Earnings Call Transcript
Key Points
- Deutsche Lufthansa AG (DLAKF) reported a 7% increase in Q2 revenues, reaching over EUR10 billion for the first time.
- The company saw a 10% increase in passenger numbers, with over 60 million passengers in the first half of the year.
- Lufthansa Technik achieved record results, with a 16% revenue increase in Q2, driven by strong demand in the MRO sector.
- The company is optimistic about sustained demand, especially in premium classes, and expects a positive result for the year.
- Deutsche Lufthansa AG (DLAKF) has launched a comprehensive turnaround program to modernize Lufthansa Airlines and improve efficiency.
- The first half of the year did not meet expectations, with significant impacts from strikes and commercial reasons.
- Ongoing delivery difficulties from aircraft and engine manufacturers have affected fleet modernization plans.
- The certification process for new seats and cabin interiors is taking longer than expected, causing delays.
- Significant increases in taxes and fees in Germany have impacted financial performance.
- The company had to adjust its full-year guidance, now expecting an adjusted EBIT of between EUR1.4 billion and EUR1.8 billion, down from previous expectations.
Good morning here from Frankfurt. Welcome to all of you. Thanks for the interest. We'll give you an update on our Q2 results on strategic outlook and milestones and on the business going forward for the rest of the year.
Sitting with me today are our CEO, Carsten Spohr; and our Board Member, Michael Niggemann who is also Acting CFO. And as always, after the presentation, you have the chance to ask questions. But also, as always, we ask you to limit your questions to two, so that everybody can participate.
And with that, I hand over to you, Carsten.
Yeah. Thank you very much, Mark, and a warm welcome on my behalf as well. This gentleman some of you I met many times before and you know, I have said before that the pace of change in our industry is further accelerating. And you only have to look at the last months to get a sense of the pace of economic change
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