Conor Dwyer's questions to DEUTSCHE LUFTHANSA A G /FI (DLAKY) leadership • Q1 2025
Question
Conor Dwyer asked if cargo volumes have accelerated in regions other than China since the announcement of tariffs, and questioned if a potential deceleration in North Atlantic capacity could lead to H2 unit cost inflation similar to Q2.
Answer
CEO Carsten Spohr explained that Lufthansa Cargo is well-positioned as its key traffic flows (Asia-Europe, Europe-U.S.) are benefiting from current trends, and they are not directly exposed to the China-U.S. flow. CFO Till Streichert clarified that they would only moderate capacity growth if the negative trend worsened and that the expected H2 CASK normalization remains part of their plan.