Lufthansa Reports Surge in Revenue and Profit for Q2

Lufthansa, the German carrier group, has announced impressive financial results for the second quarter, driven by strong demand as travelers seek to make up for lost time after the Covid-19 pandemic.

Revenue and Profit Increase

During the three months ending in June, Lufthansa recorded revenue of €9.39 billion ($10.27 billion), marking a significant 17% increase compared to the previous year. The net profit for the quarter surged to €881 million from €259 million, while adjusted earnings before interest and taxes (EBIT) nearly tripled, reaching €1.09 billion.

Analysts had anticipated revenue of €9.40 billion, a profit of €713 million, and adjusted earnings of €1.04 billion, according to consensus figures provided by the company.

Strong Booking Outlook

Lufthansa has reported that bookings from August through December are already at over 90% of pre-pandemic levels on average, signaling continued high demand for airline tickets. However, the group expects capacity for the year to be around 85% compared to 2019 due to supply-chain challenges and bottlenecks in the European air traffic system. This revision contrasts with the group's earlier forecast of approximately 85% to 90%.

Optimistic Forecast

Despite the capacity constraints, Lufthansa is predicting an adjusted EBIT of more than €2.6 billion for the full year, which would be one of its best financial performances in history.