Lufthansa triples its profit in Q2, raises its annual forecast

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Lufthansa Group has more than tripled its net profit in the second quarter year on year, driven by strong travel demand, and expects to record one of the best annual results of its history.

Benefiting from strong travel demand on all its airlines –Lufthansa, Eurowings, Austrian Airlines, Brussels Airlines and SWISS-, the German air group cleared a net profit of 881 million eurosagainst 259 million in the second quarter of 2022, he said in a press release yesterday, after a winter in the red, a period less favorable to travel.

In the second quarter of 2023, Lufthansa Group achieved a turnover up 17% to 9.38 billion euros, boosted by the increase in demand for passenger flights -33.3 million passengers, an increase of 14% over one year-, and by ticket prices, 25% more expensive than in the second quarter of 2019, specified to the press Denis Weber, Head of Investor Relations. For the third quarter, the German airline group anticipates an operating result exceeding that of the pre-pandemic year of 2019 (1.3 billion euros).

For the whole of 2023, it now expects its adjusted Ebit to be more than 2.6 billion euros. He had previously said he expected a significant increase from the 1.5 billion figure recorded in 2022.

Last week, the rival group Air France-KLM also announced a quarterly profit of 733 million euros, higher than expected thanks to an increase in the number of passengers.

John Walker Avatar