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The European airline Deutsche Lufthansa reported preliminary financial results of the first quarter, according to which a corrected loss of 336 million euros against EBIT of 52 million euros in the first quarter a year earlier was recorded. The reason for this was an increase in fuel costs and an oversupply on European routes. Quarterly revenue amounted to 7 billion 900 million euros, an increase over the year by 3%. Lufthansa, which transported a record number of passengers last year – more than 142 million – expects that by the end of this year, its adjusted EBIT profitability will be in the range of 6.5% to 8%. Last year, the figure was 7.9%. The capitalization of the German airline currently stands at about 10.5 billion euros. Since the beginning of 2019, it has increased by 12%.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
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