by Amruth Sundarkumar | May 26, 2023 | Corporates, Investment Grade Bonds
Lufthansa has secured a deal to take a 41% minority stake in Italian carrier ITA Airways for €325mn. Lufthansa CEO Carsten Spohr said, “Today’s agreement will lead to a win-win situation for Italy, ITA Airways and Lufthansa Group… will invigorate...
by Amruth Sundarkumar | May 23, 2023 | Corporates, Credit Ratings
Luftansa was upgraded to Ba1 from Ba2 by Moody’s upon a “very swift deleveraging path over the last 12 months”. Luftansa’s adjusted gross debt/EBITDA has improved significantly from a negative number in 2021 to 4.2x as per the TTM ended March...
by Amruth Sundarkumar | Dec 14, 2022 | Corporates, Investment Grade Bonds
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...
by Amruth Sundarkumar | Oct 12, 2021 | Corporates
Lufthansa said in a press release that it completed a €2.16bn capital raise proceeds of which were used to repay its €1.5bn state-aid known as stabilization funds that it received as part of a 2020 bailout. The German carrier paid back the first tranche of...
by Amruth Sundarkumar | Sep 20, 2021 | Corporates
Deutsche Lufthansa is raising €2.1bn ($2.5bn) from a capital increase in a bid to strengthen its balance sheet and to enable the early repayment of the state-led stabilization package issued last year during the peak of the pandemic. The company expects to raise...
