Lufthansa Group reports adjusted EBIT growth in 1H2016 but downgrades FY guidance

Lufthansa Group reported (20-Jul-2016) the following preliminary financial highlights for 1H2016:

• Revenue: EUR15.0 billion, -2.6% year-on-year;
• Adjusted EBIT: 529 million, +13.0%;
• • Passenger Airline Group: EUR441 million, +77.1%;
• Net debt: EUR2.5 billion. [more - original PR]

The group noted advance bookings, particularly on long-haul routes to Europe, have declined significantly due to increasing political and economic uncertainties. It therefore regards a complete recovery as not likely.