Lufthansa Posts FY20 Net Loss

(RTTNews) - German airline Deutsche Lufthansa AG (DLAKF, DLAKY) on Thursday reported a net loss for the year 2020, with more than 60 percent downslide in total revenue, impacted by Covid-19 pandemic crisis.

For the year, the Group's net loss totaled 6.7 billion euros, compared to last year's net profit of 1.2 billion euros. Loss per share was 12.51 euros versus profit per share of 2.55 euros last year.

On an adjusted basis, EBIT for the year was a negative 5.45 billion euros compared to a positive 2.03 billion euros last year.

The airlines' total revenue for the full year fell by 63 percent to 13.59 billion euros, from last year's 36.42 billion euros. Traffic revenue for the Group declined by 68 percent to 9.08 billion on lower traffic.

During the year, Lufthansa said passenger numbers fell by 75 percent, while capacity was down by 69 percent. The seat load factor slid by 19.4 percentage points to 63.2 percent.

Looking ahead, the Group said its revenue as a whole is expected to go up year-on-year and the extent of it will largely depend on the pace of recovery at the Group airlines.