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B-747-400 Newark 2018 - Foto: Per Gram

Lufthansa Group generates operating profit of 1.1 billion euros in the third quarter – Demand for air travel remains strong

By

 Bart Noëth

 -

27 October 2022

0

Lufthansa Group just posted its third quarter 2022 results. In the last quarter, the airline generated an operating profit of € 1.1 billion. Passenger airlines within the group see a significant earnings increase with a continuous travel demand. Stabilization measures in Austria and Belgium will be repaid in full and ahead of schedule. Full press release follows:

Carsten Spohr, CEO of Deutsche Lufthansa AG, said:

“The Lufthansa Group achieved a very strong result in the third quarter with an operating profit of over one billion euros, thus demonstrating its regained profitability. All business segments, passenger airlines as well as logistics and MRO, contributed to this success. This once again underlines the strength of our portfolio. The Lufthansa Group has economically left the pandemic behind and is looking optimistically into the future. After all, the desire to travel and thus the demand for air travel continues unabated. Now we are focusing on the future and launching the biggest product renewal in our history. We are investing in 200 new aircraft and offering perspectives for our employees around the world. It remains our ambition to further strengthen our position among the top 5 airline groups in the world.”

Results

Group revenue almost doubled compared to last year (+93 percent), reaching 10.1 billion euros in the third quarter (previous year: 5.2 billion euros).

The company generated an Adjusted EBIT of 1.1 billion euros in the third quarter of 2022, including an impact from strikes of around 70 million euros. In the same period last year, operating profit was 251 million euros. The operating margin amounted to 11.2 percent (prior year: 4.8 percent). Net income increased significantly in the third quarter to 809 million euros (previous year: -72 million euros).

Load factor at Lufthansa Group Airlines at 2019 level

The number of passengers travelling on board of the passenger airlines increased significantly in the third quarter compared with the previous year. Between July and September, more than 33 million passengers flew with the airlines of the Lufthansa Group (previous year: 20 million).