...November 8, 2021 - After the weak first half of 2021, demand in intra-European air passenger traffic, especially for holidays and leisure destinations, picked up in the summer. Considering the increasing rate of vaccinations and easing travel restrictions across Europe, as well as the anticipated reopening of some important long-haul destinations such as North America, we expect the global air passenger traffic demand to continue its recovery, albeit from the very low 2020 levels. - In 2021, we expect Deutsche Lufthansa AG (Lufthansa) to see demand as measured in revenue-passenger-kilometers (RPK) at only about 30% of the pre-pandemic level. Despite the delayed traffic recovery in 2021, Lufthansa stabilized its liquidity through proactive cash flow management and external funding. In 2022, demand in air passenger traffic should recover to up to 70% of the pre-pandemic level, and teamed with the cost-reduction measures, should improve adjusted EBITDA to 2.0 billion-2.5 billion from the break-even...
