Deutsche Lufthansa AG — Earnings Release 2001

Sep 19, 2001

News Details

Ad-hoc | 19 September 2001 20:20

Deutsche Lufthansa AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Ad hoc release pursuant to §15 of the Securities Trading Act (WpHG) Lufthansa revises its profit forecast and defers investment plans After the devastating terrorist attack on the United States on 11 September, the Executive and Supervisory Boards of Deutsche Lufthansa AG have been examining closely the consequences for global air traffic which are already apparent and those which are to be expected. In view of the current political uncertainty, it is not possible to make reliable forecasts of the travel behaviour of customers or of the volume of cargo traffic. But it is only realistic to expect a drop in demand. Against this background, the previous forecast of our operating result can no longer be upheld. At present we are unable to make any reliable projections. The Executive Board will, however, take all the necessary steps to prevent an operating loss. Among the measures which have already been approved is a freeze on investments. At their meeting today, the Executive and Supervisory Boards agreed to postpone the planned aircraft orders for up to 15 Airbus 380s and 4 Boeing 747-400 wide- body jets. Further measures include a reduction in capacity, a recruitment freeze and a thorough review of all expenditure and cost items within the Lufthansa Group. Deutsche Lufthansa AG Investor Relations Ulrike Schlosser, Tel. (069) 696-90997, Fax (069) 696-90990 Email: investor.relations@dlh.de end of ad-hoc-announcement (c)DGAP 19.09.2001 ——————————————————————————– WKN: 823212; Index: DAX Listed: amtlich in Berlin, Bremen, Düsseldorf, Frankfurt/Main, Hamburg, Hannover, München und Stuttgart 192020 Sep 01