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Lufthansa Group returns to profitability

Lufthansa Group returns to profitability
Lufthansa Group returns to profitability
Written by Harry Johnson

On a preliminary and unaudited basis, Lufthansa Group more than doubled its revenue compared to the previous year

The Lufthansa Group significantly increased its revenue in the second quarter of 2022 and generated an operating profit.

On a preliminary and unaudited basis, the Group more than doubled its revenue compared to the previous year. It amounted to approximately 8.5 billion euros in the second quarter (previous year: 3.2 billion euros).

The Group’s Adjusted EBIT was between 350 and 400 million euros (previous year: -827 million euros).

Lufthansa Group benefited from a continuously strong performance at Lufthansa Cargo.

Lufthansa Technik achieved a similarly high result to the first quarter.

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The result of the Passenger Airlines improved mainly due to a strong rise in yields and a significant increase in loads. Seat load factors were particularly high in premium classes.

Despite a positive result at SWISS, however, the Adjusted EBIT of the Passenger Airlines segment remained negative.

The Lufthansa Group achieved a significantly positive Adjusted free cash flow in the second quarter, mainly due to the operating profit and the persistently strong demand for bookings.

On a preliminary and unaudited basis, the Adjusted free cash flow amounted to around 2 billion euros (previous year: 382 million euros). Net debt is expected to decrease by a similar amount in the second quarter (March 31, 2022: 8.3 billion euros).

Lufthansa Group will present its final quarterly results on August 4, 2022.

Deutsche Lufthansa AG, commonly shortened to Lufthansa, is the flag carrier of Germany. When combined with its subsidiaries, it is the second-largest airline in Europe in terms of passengers carried. Lufthansa is one of the five founding members of Star Alliance, the world’s largest airline alliance, formed in 1997.

Besides its own services, and owning subsidiary passenger airlines Austrian Airlines, Swiss International Air Lines, Brussels Airlines, and Eurowings (referred to in English by Lufthansa as its Passenger Airline Group), Deutsche Lufthansa AG owns several aviation-related companies, such as Lufthansa Technik and LSG Sky Chefs, as part of the Lufthansa Group. In total, the group has over 700 aircraft, making it one of the largest airline fleets in the world.

Lufthansa’s registered office and corporate headquarters are in Cologne. The main operations base, called Lufthansa Aviation Center, is at Lufthansa’s primary hub at Frankfurt Airport, and its secondary hub is at Munich Airport where a secondary Flight Operations Center is maintained.

The company was founded as Luftag in 1953 by staff of the former Deutsche Luft Hansa that had been dissolved after World War II. Luftag continued the traditional branding of the German flag carrier by acquiring the Luft Hansa name and logo.

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About the author

Harry Johnson

Harry Johnson has been the assignment editor for eTurboNews for mroe than 20 years. He lives in Honolulu, Hawaii, and is originally from Europe. He enjoys writing and covering the news.

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