Lufthansa reports narrower second quarter loss, first positive cash flow since crisis

FRANKFURT, Aug.5 (Reuters) – Germany’s Lufthansa (LHAG.DE) said on Thursday it had further reduced its losses in the second quarter and recorded its first positive adjusted free cash flow since the start of the coronavirus crisis, citing faster-than-expected cost reductions.

The group, which also owns Eurowings, Swiss, Brussels and Austrian Airlines, said the adjusted operating loss fell to 952 million euros ($ 1.13 billion), 43% lower than a year earlier and lower than the 971 million euros expected on average in a company supplied by the company. survey.

Revenues amounted to 3.2 billion euros, slightly below the 3.3 billion euros forecast.

Lufthansa, which in June presented plans to return to profitability with fewer planes and personnel than before the coronavirus pandemic hit the travel industry, said it continued to expect a strong demand for tourist destinations and a recovery in business travel in the second half of the year.

($ 1 = 0.8450 euros)

Reporting by Ilona Wissenbach and Tomasz Janowski; Edited by

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