The Lufthansa Group has announced a record-breaking summer with an Adjusted EBIT of EUR 1.5 billion in the third quarter, reflecting strong demand for air travel. Key highlights of a press release issued today include:
Passenger airlines within the Lufthansa Group carried 38 million travellers between July and September, demonstrating strong demand across various traffic regions.
All Group airlines reported double-digit third-quarter Adjusted EBIT margins, contributing to the robust financial performance.
The Group experienced a 31 percent improvement in the third-quarter Adjusted EBIT compared to the previous year, reaching an operating result of EUR 1.5 billion.
Strong demand, higher capacity, and high yields were the primary drivers behind the increased earnings, with yields reaching a new record high.
Despite rising costs due to inflation, unit costs in the third quarter improved by 0.9 percent compared to the prior year.
The Lufthansa Group recorded a total third-quarter capacity increase of 13 percent compared to the previous year.
Lufthansa Technik benefited from increased demand for maintenance, repair, and overhaul (MRO) services, achieving an Adjusted EBIT of EUR 168 million in the third quarter.
The Group’s balance sheet was strengthened, with lower net debt and improved liquidity.
The Lufthansa Group was awarded an investment grade rating by Fitch, becoming the first of the three leading rating agencies to do so following the COVID pandemic.
The Group is focused on transforming into a global airline group, with various strategic initiatives in progress.
The Lufthansa Group is committed to reducing its carbon emissions and is introducing Green Fares, which involve offsetting flight-related CO? emissions with Sustainable Aviation Fuel (SAF) and climate protection projects.
The outlook for the Lufthansa Group remains positive, with strong demand for air travel expected to continue in the coming months. The Group anticipates achieving a positive operating result in the fourth quarter of 2023 and an Adjusted EBIT of more than EUR 2.6 billion for the year.
For 2024, the Lufthansa Group plans to increase capacity to around 95 percent of pre-crisis levels, with a targeted Adjusted EBIT margin of at least 8 percent.
The press release highlights the Lufthansa Group’s financial strength, operational performance, and commitment to sustainability amid ongoing challenges in the aviation industry.