Lufthansa Group reports strong Q3 with record revenue and steady demand

The Lufthansa Group achieved an operating profit of €1.3 billion in Q3 2024, following a robust summer travel season that brought record revenue of €10.7 billion, marking the strongest quarter in the company’s history.

Despite a slight dip from last year’s €1.5 billion profit, Lufthansa’s overall seat load factor peaked at a record 88% in August, helping stabilise unit revenues.

Key Highlights:

• Passenger Growth: The Group’s airlines carried over 40 million passengers in Q3, a 6% increase from last year, with load factors reaching 87%.
• Challenges: Lufthansa Airlines saw a €234 million decrease in operating profit, impacted by delayed aircraft deliveries, increased costs, and higher compensation expenses. In response, the airline is implementing a “Turnaround” programme to boost efficiency and streamline operations, expected to generate €1.5 billion in gross EBIT by 2026.
• Performance of Subsidiaries: Lufthansa Technik sustained last year’s record performance, and Lufthansa Cargo recorded an operating profit of €38 million, buoyed by increased e-commerce demand from Asia.

Financial Position and Outlook: Lufthansa’s financial health remained strong, with a net debt reduction to €5.1 billion and an increase in liquidity to €11.4 billion. With steady premium class demand and higher Q4 bookings compared to last year, the Group reaffirms its full-year Adjusted EBIT target of €1.4–€1.8 billion, supported by strategic fleet upgrades and the Turnaround programme.