Skift Take
Despite a shaky set of quarterly figures, the Lufthansa Group is sticking to its full-year outlook and says demand remains strong, particularly for its premium products.
The Lufthansa Group painted a mixed picture on Tuesday as it reported its latest financial results. The German company said its earnings position “deteriorated significantly” in the first nine months of 2024 compared to a year earlier. This was despite record-breaking revenues and overall capacity growth.
The group posted a third-quarter operating profit of €1.3 billion ($1.4bn), a 9% drop from the same period last year.
The firm is best known for its flagship brand, Lufthansa Airlines, but it includes other big names such as Austrian Airlines, Swiss, Brussels Airlines, and Eurowings. It also operates large maintenance and cargo businesses.
In a market filing, the group highlighted growing competition and intensifying price pressure on its airlines. It said rival operators added capacity “market-wide,” most notably in the April to June quarter of 2024, with Lufthansa Airlines being particularly hard hit.
This saw average yields - the revenue earned by each passenger - falling by 3.5% co