Lufthansa Group's Financial Resurgence Earns Top Ratings from Leading Agencies

By Ivan PetrenkoJan 24, 2024 11:38 AMNews
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Lufthansa plane in the air
Lufthansa plane in the air. Source: unsplash

The Lufthansa Group, one of Europe's premier airline conglomerates, has successfully navigated through the tumultuous Corona crisis and emerged with a renewed financial stature. This resurgence has been recognized by all major rating agencies, reinstating the Group's status as an investment-grade entity.

Following a challenging period marked by the pandemic's impact, the Lufthansa Group has demonstrated remarkable financial resilience. Last week, Moody's upgraded the Group's rating from Ba1 to Baa3, a move that aligns with earlier positive assessments from Standard and Poor’s and Fitch. This collective upgrade now distinguishes Lufthansa Group as the sole European airline to secure an investment-grade rating from all leading agencies, highlighting its robust financial recovery.

The journey to regain investment-grade status was arduous. The onset of the Corona pandemic in 2020 had led to a downgrade by Moody’s and Standard & Poor’s. However, Scope Ratings from Europe maintained its confidence in the Group throughout the crisis. The recent uplift in ratings can be attributed to a significant improvement in Lufthansa's operating profitability and the strengthening of its balance sheet, signaling a stable and optimistic financial future.

Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG, reflected on this accomplishment with a sense of pride and optimism. He emphasized that the return to investment-grade status is not just a symbol of the Group's improved profitability and debt reduction, but also a testament to its strengthened equity position. Looking ahead, Steenbergen affirmed Lufthansa's commitment to continue generating high returns and cash flows, aiming to invest in profitable growth and create value for shareholders.

The Lufthansa Group's achievement in regaining its esteemed financial standing serves as a beacon of resilience and strategic foresight in the airline industry. It not only marks a significant comeback from the depths of the crisis but also sets the stage for future growth and stability. As the travel industry rebounds, the Lufthansa Group stands poised to capitalize on emerging opportunities, underlining its role as a key player in shaping the future of air travel.

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