Lufthansa’s quarterly profit up 240% – Kommersant
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In the second quarter, the revenue of the German airline Lufthansa increased by 17%, to €9.4 billion. Net income increased by 240%, amounting to €881 million. Good performance is associated with a recovery in demand for flights after the pandemic.
Ticket bookings between August and December are at 90% of pre-pandemic 2019 levels. Lufthansa has also significantly raised its forecast for 2023 as a whole: it expects EBIT (earnings before interest and taxes) of €2.6 billion – it had previously forecast €1.5 billion.
Nevertheless, Lufthansa shares fell 5.6% after the publication of financial statements. According to experts, this is due to the fact that investors are afraid of high costs that may affect financial performance. “The market didn’t like higher non-fuel cost estimates from Air France-KLM last week, so there’s a risk of the same here,” Deutsche Bank analysts said. At the same time, Lufthansa itself has already stated that it expects only a modest increase in costs in the second half of the year.
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