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Bond Market News
Lufthansa Raises Profit Expectations by 50%
December 14, 2022
German carrier Lufthansa said that it expected to hit an adjusted EBIT of ~ €1.5bn ($1.58bn) in 2022 due to the twin benefit of strong demand for air travel and better-than-expected earnings in October and November. The new forecast is a significantly improved revision to its previous EBIT forecast of €1bn ($1.06bn) in October. The October forecast was itself a markedly higher revision to the EBIT forecast prior to it at €500mn ($531mn).
Lufthansa’s bonds were up by over 1 point – its EUR 3.75% 2028s were up by 1.2 points to 91.31, yielding 5.74%.
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