The Lufthansa Group has revealed that strikes during the first quarter of 2024 (January to March 2024) had an impact of approximately 350 million euros on its revenue.
Revenue stood at 7.4 billion euros (up 5% year-on-year), while adjusted EBIT was a loss of 849 million euros (the previous period saw a loss of 273 million euros). The number of passengers was 24 million (up 12% year-on-year), with a seat utilization rate of 79.7%.
Bookings for the summer have increased by 16% compared to the previous year, with popularity high in European destinations such as Spain, Portugal, Italy, Greece, and in intercontinental flights to the USA, Japan, and South Africa. The supply volume in the second quarter remains at 92% of pre-COVID levels, with reasons cited including investments in operational stability and delivery delays.
In response to substantial losses, Lufthansa German Airlines is implementing measures such as short-term cost reductions, cancellation of new projects, and reevaluating the necessity for additional hires in administrative departments. The forecast for the full-year adjusted EBIT stands at approximately 2.2 billion euros.
