Lufthansa Group reports Q2 profit of EUR 686 million amid strategic developments and challenges

Lufthansa Group’s Q2 revenue rose by 7% to EUR 10 billion, with an adjusted EBIT of EUR 686 million, despite a drop from last year’s EUR 1.1 billion.

Demand for air travel continued to rise in the second quarter. More than 60 million passengers flew with the airlines of the Lufthansa Group in the first six months of 2024, a 10-percent increase on the same period last year. In the second quarter of 2024 alone, the airlines welcomed around 36 million passengers on board (compared to 33.3 million in the second quarter of 2023).

• Performance Drivers: Lufthansa Technik achieved record results, while Lufthansa Cargo saw year-on-year improvement.
• Strategic Moves: The group is furthering its multi-hub and multi-brand strategy with an investment in ITA Airways and the introduction of new products and airlines (Discover Airlines, Lufthansa City Airlines).
• Challenges and Turnaround: Lufthansa Airlines faced losses due to market conditions, strikes, and aircraft delivery delays, prompting a comprehensive turnaround programme. In particular, reducing to six long-haul aircraft types by decommissioning the Airbus A340-300, A340-600 and A330-200 and the Boeing 747-400 sub-fleets by 2028.
• Outlook: The group anticipates a full-year adjusted EBIT of EUR 1.4 to 1.8 billion, despite ongoing market challenges and cost pressures.