LUFTHANSA : Stifel downgrades its recommendation
The broker points to the impact of the knock-on effects of first-quarter strikes on second-quarter unit revenues, while delays in B787 deliveries continue to weigh on unit costs excluding fuel.
Also, Stifel cuts its EBIT estimate for Lufthansa by 15% to €1.84 billion for 2024 (versus a guidance of €2.2 billion). For the second quarter, its estimate of 565 million appears to be around 35% below consensus.
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