LIABILITIES

1ST SLIDE
Financial liabilities consist of a non-current part with a residual term of
more than one year and a current portion of less than one year, which is
shown under current liabilities.
There were no delays or defaults on payment obligations under these
loan arrangements in both 2018 or 2017.
Leasing liabilities and other loans relate almost exclusively to finance
leases and to aircraft financing arrangements.
Non-current liabilities and provisions went down by 11%
Current liabilities and provisions went up by 28%

2ND SLIDE
The following table presents the total amount of borrowings.
Non-current borrowing declined by 18% to EUR 5,008m due to
refinancing activities that altered the maturity profile and the early
redemption of individual borrower’s note loans (previous year: EUR
6,142m). Non-current borrowing also comprised two aircraft financing
models via structured entities for EUR 243m in total, as well as finance
leases of EUR 241m.

3RDSLIDE
Within the current portions of financial borrowing, scheduled
repayments, including for tranches of borrower’s note loans and finance
leases, were almost offset by new current borrowing. The steep increase
in current financial liabilities to EUR 1,677m (previous year: EUR 672m)
results mainly from the reclassification of liabilities due to changes in
maturities.
CONCLUSION

In 2018 The Lufthansa Group was one of the few companies in the sector to
have achieved the targets set at the start of the year. Despite numerous
challenges, the result was almost on par with the previous year. Integration costs
at Eurowings in connection with the takeover of significant parts of Air Berlin,
irregularities in flight operations and much higher fuel costs added up to
massive financial trouble(burden). Profitable growth and efficiency gains,
nevertheless enabled us to compensate for most of these adverse effects.

Network Airlines performed particularly well in this difficult environment. The

results of Lufthansa German Airlines and SWISS broke new records. The
Logistics, MRO and Catering segments all beat their previous year’s results too.