Lufthansa Group back to black with operating profit of 393 million euros and Adjusted free cash flow of 2.1 billion euros in the second quarter
- Strong increase in average yields and successful cargo segment drive positive quarterly result
- Boom in demand for airline tickets continues
- Load factors in premium classes above 2019 levels – recovery of business travel continues
- Group will be hiring around 5,000 new employees in the second half year of 2022
- First European airline group: SBTi validates climate targets of the Lufthansa Group
- Lufthansa Group specifies outlook for the year and expects Adjusted EBIT above 500 million euros in line with market expectations
Carsten Spohr, CEO of Deutsche Lufthansa AG, said:
“The Lufthansa Group is back in the black. This is a strong result after a half-year that was challenging for our guests but also for our employees. Worldwide, the airline industry reached its operational limits. Nevertheless, we are optimistic about the future. Together, we have steered our company through the pandemic and thus through the most severe financial crisis in our history. Now we must continue to stabilize our flight operations. To this end, we have taken numerous measures and successfully implemented them. In addition, we are doing everything in our power to expand the premium positioning of our airlines again and thus to fully meet the demands of our customers and also our own standards. We want to and will continue to strengthen our position as the number 1 in Europe and thus maintain our place in the global top league of our industry. In addition to the achieved return to profitability, top products for our customers and prospects for our employees are now once again our top priority.”
The Group generated an operating profit of 393 million euros in the second quarter. In the prior-year period, Adjusted EBIT was still clearly negative at -827 million euros. The Adjusted EBIT margin rose accordingly to 4.6 percent (prior year: -25.8 percent). Net income increased significantly to 259 million euros (prior year: -756 million euros).
The company turned over 8.5 billion euros in the second quarter, almost three times as much as in the same period last year (previous year: 3.2 billion euros).
For the first half-year of 2022, the Group recorded an Adjusted EBIT of -198 million euros (prior year: -1.9 billion euros). The Adjusted EBIT margin amounted to -1.4 percent in the first half of the year (prior year: -32.5 percent). significantly compared with the first six months of 2021 to 13.8 billion euros (prior year: 5.8 billion euros).