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%.
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.
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