RE: Fundamentals30 Jul 2019 13:59
Other airlines dragging share price down like today. See - share news on here ...
British Airways owner IAG was down 3.8% in a negative read-across from German flag carrier Lufthansa. Lufthansa was down 6.4% in Frankfurt, dragging on the DAX index, after reporting a sharp decline in second quarter profit amid competition struggles. The airline's key financial target, adjusted earnings before interest and taxes, was down year on year to EUR754 million. This represents a 25% decline from EUR1.00 billion the year before. Despite the slip, the adjusted Ebit result was still ahead of market consensus of EUR735 million."Our earnings are feeling the effects of tough competition in Europe and sizeable overcapacities, especially on our short-haul routes out of Germany and Austria," said Chief Financial Officer Ulrik Svensson. Other London-listed airlines to be hit by Lufthansa's tough quarter were easyJet, down 4.3%, and Ryanair, down 5.9%.In the FTSE 250