Negative EBIT of 849 million, almost half attributed to strikes. Lufthansa plans to contain costs, halt new projects, and evaluate administrative positions to combat losses.
CEO Carsten Spohr highlighted a turning point post-strikes, emphasizing long-term pay deals for staff, providing future security and clarity.
Turnover increased by 5% and passenger numbers rose by 12% compared to Q1 2023, indicating a degree of recovery amidst a challenging industry climate.
Lufthansa anticipates a strong summer and expects annual profits after a weak Q1, hinting at a potential positive trajectory for the company.
#cost-cutting-measures #turnaround-strategy #financial-performance #ceo-statement #industry-recovery
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