Lufthansa Almost Triples Operating Profit

Lufthansa Boeing 787-9 Dreamliner

Lufthansa has revealed its second quarter results which, in line with their higher prices and broader industry reports, see substantial profits.

2023 is expected for Lufthansa to be one of their best following operating profit reaching USD 1.19 billion, a staggering difference from the USD 428 million for the same quarter one year prior.

Revenues for the second quarter were also up 17%, reaching USD 10.2 billion, highlighted through the increased ticket prices and passenger numbers growing year on year, but still, for the second quarter, not quite at pre-pandemic numbers.

Lufthansa says it carried 33.3 million passengers for the second quarter, 84% of the levels seen in 2019.

I am proud that all passenger airlines were able to generate a strong operating result and that we achieved a record result in the second quarter. Lufthansa Group has shown over the past few years that it delivers on its promises. This also applies to the development of our portfolio, where we have made significant progress in our transformation into an Airline Group. In the coming months we will continue to work on getting as close as possible to our 2024 targets already in the current year.

Remco Steenbergen, Chief Financial Officer of Deutsche Lufthansa AG

Air traffic continues to be a pressing cause for global concern for airlines, preventing them from reaching maximum capacity for 2023. Lufthansa cites the challenging ATC bottlenecks within European airspace as a critical catalyst for why passenger levels for 2023 will be lower than pre-pandemic figures.

According to Lufthansa, the second quarter focused on improving flight operations and ensuring stability. The strategy, according to the company, was successful. As a result, they reported a 70% improvement in punctuality for the first six months of the calendar year.

Daniel Fowkes
03 Aug 2023
· Airlines 
· Uncategorized 

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