Lufthansa, the German carrier group, has announced better-than-expected earnings for the third quarter of the year. The company attributes this success to what it calls a record-breaking summer season. Lufthansa also expressed confidence in the future, anticipating continued strong demand for air travel in the coming months, even in premium cabins.
Impressive Financial Results
During the three months leading up to the end of September, Lufthansa achieved a revenue of €10.28 billion ($10.87 billion), marking an 8% increase compared to the previous year. Notably, the group's airlines, which include Swiss, Austrian Airlines, Brussels Airlines, and Eurowings, reported transporting over 38 million passengers during Q3. This figure highlights significant growth when compared to the 33 million passengers carried in the same period last year.
The net profit for Lufthansa saw a substantial surge of 47%, reaching €1.19 billion in Q3. Furthermore, the adjusted earnings before interest and taxes (EBIT) increased from €1.12 billion to €1.47 billion, achieving an impressive adjusted margin of 14.3%.
Exceeding Analyst Expectations
Lufthansa's strong financial performance surpassed the forecasts provided by analysts. The consensus predicted a revenue of €10.84 billion, profit of €1.04 billion, and adjusted earnings of €1.43 billion.
Promising Outlook and Projections
The airline group anticipates that its capacity in the current quarter will reach approximately 91% of 2019 levels. Additionally, it reconfirmed its adjusted EBIT forecast for the year—a figure exceeding €2.6 billion.
In conclusion, Lufthansa's remarkable Q3 results indicate robust growth and reflect positively on the resilience of the air travel industry. As the world moves forward, the company remains optimistic about the continuation of strong demand for flights.
