German flagship airline Lufthansa announced on Monday that it has slashed down the company's outlook for fiscal 2024 due to a series of strikes by different employee groups within the Group and by employees at system partners, impacting earnings by €350 million ($37 million).
For the current fiscal year, the company now expects an adjusted EBIT of €2.2 billion compared to €2.68 billion in the previous year.
On a preliminary basis, the company expects an adjusted EBIT loss of €849 million in the first quarter of 2024 compared to last year's loss of €273 million.
Currently, the company's stock is trading at $6.97, down 4.32% on the Other OTC.