Lufthansa Group: strong Q3 thanks to strong demand and increased ticket prices

Avatar photo

Lufthansa Group released a achieved a Operating profit adjusted before interest and taxes (Ebit) of 1.47 billion euros in the third quarter of 2023, up 31% year-on-year and slightly above the consensus of 1.43 billion provided by the company.

THE German airline group (Lufthansa and its subsidiaries Austrian Airline, Brussels Airlines, SWISS and Eurowings) generated a turnover of 10.3 billion eurosup 8% over one year, making it “the strongest quarter in its history in terms of sales“, he underlined his press release. And to specify: “This increase is mainly attributable to the combination of strong demand, greater capacity offered and still high average prices“.

Still in the third quarter, ticket prices are 25% more expensive than in 2019 during the same period and have reached a record, according to the press release. The number of passengers also increased year-on-year, to 38 million. The group operates capacity at 88% of the pre-Covid level of 2019, and plans to reach 91% in the fourth quarter.

Even if the geopolitical situation remains difficult, our booking outlook gives us reason to be positive not only for a very good result for the group this year, but also beyond », added the group’s president, Carsten Spohr.

Lufthansa Group now expects to deliver a positive operating profit for the fourth quarter, which should enable it to achieve its adjusted Ebit target of more than €2.6 billion for the full year 2023 .

John Walker Avatar