Overview

• Most reductions will occur in Germany and target back‑office roles, with operational staff largely unaffected.
• Management says the process will be negotiated with unions and works councils as the group deepens integration across its airlines.
• For 2028–2030, the company targets an adjusted operating margin of 8–10%, adjusted ROCE of 15–20%, and annual free cash flow above €2.5 billion.
• The fleet plan calls for adding more than 230 aircraft by 2030, including about 100 long‑haul jets, with ongoing delivery and certification challenges noted.
• Shares rose about 2% after the presentation as investors assessed the plan alongside near‑term labor risks, including a pilot strike vote due Sept. 30.