Lufthansa’s profit doubled in 2023 – Kommersant
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In the fourth quarter, the revenue of the German airline Lufthansa grew by 5%, amounting to €8.8 billion. Net profit fell by 78%, to €67 million.
For the full year 2023, the airline’s revenue increased by 15%, to €35.4 billion. Annual net profit doubled, amounting to €1.8 billion. Lufthansa will pay dividends for last year in May – this is the first dividend since the start of the COVID-19 pandemic – they will amount to €0.3 per share. In 2023, the airline carried 123 million passengers, 20% more than in 2022.
Lufthansa downgraded its forecast for the first quarter and 2024 as a whole. The company expects it will post a loss in the first quarter and expect full-year financial performance to be around 2023 levels, worse than it had previously forecast. This is due to the fact that the growth in demand for air travel, which will continue this year, will be offset by costs due to strikes and other labor disputes.
Since the beginning of the year, the ver.di trade union has already held several strikes airport workers, etc. Today, March 7, there is also a strike by Lufthansa employees at several airports in Germany.
Lufthansa shares are down 1% today.
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