Adjusted free cash flow reached €1.04bn (+18%) in the first half of the year, with net debt reduced to €5.5bn. Management says that it remains on track despite an uncertain environment. 2025 will be a year of transformation, but we are continuing our efforts to increase efficiency and profitability. The transformation includes the gradual integration of ITA Airways and the turnaround program at Lufthansa Airlines, which focuses on punctuality and cost reduction. Despite volatile oil and currency prices, Lufthansa is maintaining its forecast of adjusted EBIT 'significantly higher' than in 2024 (€1.6bn) and stable adjusted free cash flow. However, visibility remains limited due to last-minute bookings and tighter regulations in Europe, the company said.