Deutsche Lufthansa AG

LHA: XETR (DEU)
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Lufthansa Earnings: Solid Set of Results; We Maintain Fair Value Despite Macroeconomic Volatility

No-moat Lufthansa reported a solid first-quarter performance, with group revenues rising 9.9% year-on-year to EUR 8.0 billion. Growth was supported by resilient passenger demand, a strong contribution from Lufthansa Technik, and a recovery in air cargo yields.

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