Despite the short-term, industry-wide risks that are depressing the share prices of all airlines, most analysts see Lufthansa as one of the best placed companies in the sector. The strong competitive positions of its business segments, efficient hubs and its very sound financial structure enable Lufthansa to take an active and successful part in the growth of and the changes affecting the industry. The consistent cost management and the solutions found for unprofitable units are also well viewed. Furthermore, the current market valuation is well below the share’s medium-term potential. At year-end about 86 per cent of equity analysts therefore recommended the share as a hold or a buy. The average target price for the usual 12 to 18-month period was EUR 12.00 and therefore offered potential of 30.6 per cent compared with the price on the reporting date.