Lufthansa Group Reports Third-Best Financial Performance in History with 1.7 Billion Euros in Net Profit

Lufthansa German Airlines LH

Lufthansa Group announced its financial results for the period ending December 2023, recording a net profit of 1.7 billion euros. This marks the third-best performance in the group’s history.

The total revenue was 35.4 billion euros, with adjusted EBIT standing at 2.7 billion euros. Thanks to increased travel demand, the number of passengers rose to 123 million, a 20% increase from the previous year. Flight operations totaled 946,000 (up 14% year-on-year) and seat occupancy was approximately 83% (up 3.1% year-on-year), returning to pre-COVID-19 pandemic levels. Operating profits were recorded across all airlines within the group.

Particularly, the demand for leisure travel and premium classes rose, with summer travel demand remaining robust. The recovery in business demand continues to be gradual. The group achieved operational stability and increased customer satisfaction, with 98% of all flights operating as scheduled.

Net debt was reduced significantly to 5.7 billion euros from 6.9 billion euros at the end of the previous period. A final dividend of 0.3 euros per share is planned, equating to a dividend yield of approximately 4% based on the share price at the end of the period.

For the period ending December 2024, demand during Easter and the summer vacation periods remains high, with levels surpassing those of last year despite increased supply. Spain, Italy, Greece, and other Mediterranean countries are particularly popular, with sustained high demand for routes to and from North America. Approximately 4.5 billion euros will be invested in new aircraft, seats, lounges, and digital services. The group expects its performance to be at levels similar to the previous year.

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