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The Lufthansa Group, a prominent player in the global aviation industry, maintains a robust international presence. Boasting a workforce of 135,353 dedicated professionals, the fiscal year of 2019 witnessed the Lufthansa Group amassing an impressive revenue of EUR 36,424 million. This formidable aviation conglomerate comprises three pivotal segments: Network Airlines, Eurowings, and Aviation Services. The Aviation Services category encompasses four distinct segments: Logistics, Maintenance, Repair, and Overhaul (MRO), Catering, and Additional Businesses and Group Functions. This overarching structure also encompasses notable entities such as Lufthansa AirPlus, Lufthansa Aviation Training, and IT enterprises. Each of these segments unequivocally commands a leading position within its respective market sphere.
Deutsche Lufthansa AG adheres to the established management and supervisory norms prevalent within German corporate frameworks. The Executive Board assumes the critical responsibility of overseeing the Company and delineating its strategic course. Their central aim remains the sustainable augmentation of the Company's intrinsic value. In this intricate corporate ecosystem, the Supervisory Board plays an instrumental role, serving as the entity responsible for appointing, advising, and monitoring the Executive Board. Significantly, Deutsche Lufthansa AG stands as the primogenitor and principal operational entity within the broader Lufthansa Group. Other business segments within this conglomerate operate as independent entities, with the exception of Lufthansa Passenger Airlines. These autonomous entities possess their own profit and operational mandates, overseen by dedicated supervisory boards, which often include members of Deutsche Lufthansa AG's esteemed Executive Board.
The year 2020 bore witness to a precipitous decline in demand, an unprecedented consequence of stringent travel restrictions imposed worldwide. The Lufthansa Group's revenue contracted drastically, dwindling from the previous year's impressive EUR 36.4 billion to a mere EUR 13.6 billion in 2020. Despite the swift and extensive measures undertaken to curtail costs, the Lufthansa Group found itself reporting an Adjusted EBIT of minus 5.5 billion euros, a stark contrast to the previous year's substantial profit of 2.0 billion euros. The Adjusted EBIT margin exhibited an alarming shift, plummeting from a positive 5.6 percent in the preceding year to a disconcerting minus 40.1 percent. The fourth quarter of 2020 alone bore the brunt of an operating cash drain, with expenditures reaching a staggering 300 million euros per month.