{
  "docId": "019dd923-5eff-723e-9be7-6110aed29517",
  "docSlug": "eae839ff5006c7e5",
  "documentTitle": "2025 Capital Markets Day",
  "authorId": "Lufthansa",
  "authorName": "Lufthansa Group",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 110,
  "pageCount": 121,
  "prevPage": 109,
  "nextPage": 111,
  "slideType": "strategic_options",
  "function": "compare_options",
  "density": "dense",
  "nDataPoints": 4,
  "notes": "The slide compares current 2024 fleet ownership (88% owned) with a future state that increases leasing for flexibility, while benchmarking against IAG and Air France-KLM ownership shares.",
  "elementsJson": [
    "headline_text",
    "donut_chart",
    "comparison_table",
    "callout_box"
  ],
  "metadataConfidence": 0.95,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5eff-723e-9be7-6110aed29517/110",
  "deckHref": "/decks/019dd923-5eff-723e-9be7-6110aed29517",
  "deckJsonHref": "/decks/019dd923-5eff-723e-9be7-6110aed29517.json",
  "deckAnchorHref": "/decks/019dd923-5eff-723e-9be7-6110aed29517#slide-110",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Shift towards more leasing while maintaining majority ownership secures flexibility and capital efficiency.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8d0b-7d88d2267cc3",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.25,
        "x": 0.3,
        "y": 0.3
      },
      "kind": "chart",
      "text": "Future fleet ownership structure: Majority owned with increased strategic flexibility",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1f35d259-0761-4c68-a0d3-aa30abc7ad92",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.25,
        "x": 0.05,
        "y": 0.3
      },
      "kind": "chart",
      "text": "2024 Fleet ownership structure: 88% owned, 735 aircraft",
      "attrs": null,
      "subkind": "donut",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "546f2857-e5a6-4fd3-a74c-64778b9e7d00",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.65,
        "y": 0.25
      },
      "kind": "list",
      "text": "Outright purchase: Strong unencumbered asset base, Flexible reserve once depreciated, Full impact on CAPEX / Net Debt",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "2c3fafc7-21c8-4478-8917-6d8323c0efdf",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.3,
        "x": 0.65,
        "y": 0.58
      },
      "kind": "list",
      "text": "Leasing: Higher fleet flexibility, Improved capital efficiency, Reduces capital expenditure",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8e12d885-eda9-4e3b-9810-1d2b7f1128be",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "Fleet ownership share: 88%",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-7323-76ab-8d0b-81340ed60a84",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.35,
        "x": 0.1,
        "y": 0.7
      },
      "kind": "table",
      "text": "Ownership share 2024: IAG 46%, Air France KLM 48%",
      "attrs": null,
      "subkind": "data",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "99ef3b50-ac74-41ce-9180-1c39b3c82205",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.9,
        "x": 0.05,
        "y": 0.05
      },
      "kind": "title",
      "text": "Shift towards more leasing while maintaining majority ownership secures flexibility and capital efficiency",
      "attrs": null,
      "subkind": "action-title",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "19d71e8e-bc21-4c9f-86a8-39a5faf56f0f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Contrast Pairs",
      "slug": "contrast-pairs",
      "agent": "Storyteller",
      "layer": "loop",
      "matchId": "019debd8-249d-76aa-b6cf-6915e42900b5",
      "evidence": "LHG vs IAG vs AF-KLM ownership share",
      "confidence": 75
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 115,
      "from": 98,
      "beatId": "019debd8-0aa9-74fe-9e7b-939f67a5d500",
      "arcName": "The Consultant's Gambit",
      "arcSlug": "consultants-gambit",
      "beatName": "Impact & Next Steps",
      "beatSlug": null,
      "evidence": "8-10% margin, 15-20% ROCE, dividends, FCF >€2.5bn",
      "position": 5,
      "confidence": 90,
      "parentBeatName": null,
      "parentBeatSlug": null
    }
  ],
  "loops": [
    {
      "to": 113,
      "from": 98,
      "name": "Waterfall Value",
      "slug": "31-waterfall-value",
      "bestFor": "Financial analysis, value bridges, variance explanations",
      "matchId": "019debd8-0d82-76e1-88b2-21175d652a75",
      "evidence": "Multiple waterfall charts p100/101/102/103, ROCE p104, FCF/dividends p111-113.",
      "position": 13,
      "objective": "Bridge 4% → 8-10% margin and quantify shareholder returns",
      "structure": "The Total -> Driver 1 Impact -> Driver 2 Impact -> Driver 3 Impact -> The Remainder",
      "confidence": 92,
      "description": "Break down a big number into its component drivers to show where value is created or lost"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}