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Lufthansa profits surge on more demand, higher ticket prices – DW – 08/03/2023

Lufthansa on Thursday posted a record result in the second quarter, putting the German airline on track for one of the three most lucrative years in its history.

Adjusted earnings before interest, taxes (EBIT) should reach at least €2.6 billion ($2.8 billion) in 2023, the company said in a statement on Thursday.

Lufthansa recorded a net profit of €881 million from April to June, a rise from €259 million in the same quarter of 2022.

The group’s revenues spiked 17% to €9.38 billion.

The results were driven by rising demand for flights as well as a surge in ticket prices.

“Costs are and are staying high, I assume the ticket prices will stay where they are,” Chief Executive Officer (CEO) Carsten Spohr said.

Lufthansa’s stock price slid 5.8% in early trading as analysts had expected higher adjusted free cash flow.

In 2022, Lufthansa earned around €1.5 billion in its day-to-day business.

Its best year to date was 2017, when the airline achieved an adjusted operating profit of just under €3 billion.

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dvv/sms (dpa, AFP)

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