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The net loss of German airline Deutsche Lufthansa in the first quarter decreased by 16% to 57 million euros compared to a loss of 68 million euros a year earlier. Adjusted EBIT increased from 25 million euros to 26 million euros, being three times less than the forecasts of the experts who had expected the figure at 81.3 million euros. This is due to the expansion of Eurowings in Europe and the increase in expenses associated with the bankruptcy of Air Berlin. Quarterly revenues amounted to 7 billion 640 thousand euros, declining from 7 billion 690 million euros. Lufthansa expects “a significant increase in adjusted revenue compared to last year and a small decrease in adjusted EBIT”.
American multinational automaker Ford Motor Co. (F.N) announced on Thursday that its vehicle sales increased by 3% from April to June in mainland China. It would be the first time that the company's first quarterly sales rose in the world's ...
On Thursday, airline group Lufthansa and unions representing German cabin crew reached an agreement that is set to reap more than 500 million Euros worth of savings. The German airline group stated in an interview that the measures, assented ...
Lufthansa’s Chief Executive Officer Carsten Spohr announced on Sunday that the company would seek to avoid grounding and insolvency before a showdown between the airline’s biggest shareholder and the German government over the ...
On Tuesday, the International Air Transport Association (IATA) announced that international airlines are in line to make a combined net loss of more than $84 billion this year due to the coronavirus crisis which has decimated air travel demand. According ...
On Thursday, Gap Inc. (GPS.N) recorded its first-quarter loss of nearly $1 billion as the retail clothing company was forced to shut its stores due to the coronavirus pandemic. Gap’s shares were down by 8% after the extended session. According ...
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