March 13, 2020 / 9:43 PM / in 19 days

BRIEF-Deutsche Lufthansa Says Proposes To Suspend Dividend, Decides On Measures To Limit Financial Impact Of Corona Crisis

March 13 (Reuters) - Deutsche Lufthansa Ag:

* DGAP-ADHOC: DEUTSCHE LUFTHANSA AG: THE EXECUTIVE BOARD PROPOSES TO SUSPEND THE DIVIDEND PAYMENT AND DECIDES ON FURTHER MEASURES TO LIMIT THE FINANCIAL IMPACT OF THE CORONA CRISIS

* DECIDED TO PROPOSE TO ANNUAL GENERAL MEETING THAT DIVIDEND PAYMENT FOR FINANCIAL YEAR 2019 SHALL BE SUSPENDED

* OVER NEXT FEW WEEKS, FLIGHT SCHEDULE MAY BE REDUCED FURTHER BY UP TO 70 PERCENT COMPARED TO ORIGINAL PLAN

* DEUTSCHE LUFTHANSA - DESPITE THESE COUNTERMEASURES, GROUP EXPECTS ADJUSTED EBIT IN 2020 TO BE SIGNIFICANTLY BELOW PRIOR-YEAR RESULT

* DEUTSCHE LUFTHANSA -REDUCING MATERIAL, PROJECT COSTS, INTENDS TO IMPLEMENT REDUCED WORKING HOURS AND NEGOTIATING POSTPONEMENT OF PLANNED INVESTMENTS

* GROUP'S FUNDAMENTAL POLICY OF DISTRIBUTING 20 TO 40 PERCENT OF NET PROFIT REMAINS UNAFFECTED

* GROUP HAS RAISED ADDITIONAL FUNDS OF AROUND EUR 600 MILLION IN RECENT WEEKS

* GROUP IS CURRENTLY IN PROCESS OF RAISING ADDITIONAL FUNDS

* GROUP CLOSED YEAR 2019 WITH AN ADJUSTED EBIT OF EUR 2,026 MILLION

* GROUP CLOSED YEAR 2019 WITH ADJUSTED EBIT MARGIN OF 5.6 PERCENT

* SPREAD OF CORONAVIRUS IS HAVING A MAJOR IMPACT ON GLOBAL DEMAND FOR AIR TRAVEL

* GROUP WILL USE AIRCRAFT FINANCING FOR RAISING ADDITIONAL FUNDS

* OVER LAST WEEK, NEW BOOKINGS AT GROUP AIRLINES WERE AROUND 50 PERCENT LOWER, COMPARED TO SAME TIME LAST YEAR Source text for Eikon: Further company coverage:

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