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Markets News

Lufthansa warns of further restructuring costs in Q4

BERLIN, Nov 4 (Reuters) - Lufthansa on Thursday said it booked a net loss of 2 billion euros ($2.35 billion) in the third quarter due to the pandemic-related slump in travelling and announced further restructuring measures would weigh on fourth-quarter figures.

The amount of the expected restructuring costs will depend on the negotiations with trade unions, the group said.

The German airline, which secured a 9 billion euro state bailout in June, said it had liquidity of 10.1 billion euros available.

Third-quarter sales fell to 2.7 billion euros from 10.1 billion euros in the previous year’s period.

$1 = 0.8520 euros Reporting by Kirsti Knolle Editing by Michelle Adair

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