Lufthansa quarterly revenue up 93%
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In the third quarter, the revenue of the German airline Lufthansa increased by 93%, amounting to €10.1 billion. The company ended the quarter with a profit of €809 million against a loss of €72 million a year earlier. Lufthansa shares rose by 3% after the publication of financial statements, they have risen in price in general by 20% over the year after a strong decline with the onset of the pandemic.
Lufthansa also reported strong demand for air travel, especially first and business class. In her opinion, good demand will continue into the fourth quarter, so that it can reach 80% utilization of pre-pandemic levels – then in 2022 as a whole it will operate at about 75% of 2019 levels. “Economically, Lufthansa has put the pandemic behind us and looks to the future with optimism,” said Carsten Spohr, CEO of the airline. Back in September Lufthansa informed on plans to hire 20,000 new employees by the end of 2023.
This summer, after the lifting of covid restrictions, the demand for air travel in Europe has increased significantly. Many airlines, including Ryanair and EasyJet, see this trend continuing in the fall, despite record inflation in the euro area.
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