Lufthansa Group quarterly revenue up 40% – Kommersant

Lufthansa Group’s first-quarter revenue was €7 billion, up 40% from a year earlier. At the same time, the company received a net loss of €467 million. A year earlier, the net loss in the first quarter was more — €584 million. As noted in report Lufthansa, the loss persists due to the “seasonal effect”, despite good demand, as well as due to preparations for the expansion of passenger operations in the summer months.

Significantly improved performance of the division of passenger air transportation. Nearly 22 million passengers were carried in the first quarter, up 64% from the same period a year earlier. The number of flights increased by 37% and exceeded 183 thousand. The revenue of this division increased by 73% and reached €5.2 billion.

Lufthansa Group expects further recovery of the air transportation market, growth in demand and increase in aircraft load. The company forecasts demand growth in the travel segment to be nearly the same as before the COVID-19 crisis. In addition, demand is expected to recover in the business travel segment. The company expects available capacity in the passenger airline segment in fiscal 2023 to be 85-90% of pre-crisis levels, about 20% higher than in 2022.

Alena Miklashevskaya