The Group reports the impact of strikes on its results and adjusts its outlook for the full year.

On a preliminary basis, the Lufthansa Group reported an adjusted EBIT loss of 849 million euros in the first quarter of 2024 (compared with a loss of 273 million euros in the previous year).

The loss was higher than expected due to various strikes, which impacted earnings by around 350 million euros.

The Group's adjusted free cash flow was positive to the tune of 305 million euros, mainly due to continued high flows from bill prepayments.

The Group expects second-quarter operating income to be lower than in the previous year. Second-quarter earnings are expected to be negatively impacted by a further 100 million euros or so as a result of wage disputes;

In the second half of the year, earnings are expected to be higher than in the previous year.

Adjusted EBIT of around 2.2 billion euros is now expected for the full year (compared with stable earnings development from the previous year's 2,682 million euros).

Adjusted free cash flow is expected to be at least 1 billion euros (versus at least 1.5 billion euros).

The Group will provide further details on its financial outlook when it publishes its final first-quarter results on April 30.

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