the profits of the German company Lufthansa soar

Lufthansa earned exactly 1.2 billion euros for this third quarter alone, one of the best quarters in its history in terms of sales. And over one year, the company practically doubled its profits. A sign that demand is there: travelers have returned, air travel has almost returned to pre-Covid crisis levels.

But this nice result is also due to an increase in plane ticket prices: 2% more, compared to the same period last year, assures Lufthansa. And to justify the increase in its prices, the company highlights the increase in its costs, in particular the surge in kerosene prices. Lufthansa now spends eight billion euros per year on kerosene alone, half a billion euros more than expected.

The company is confident for the coming months. Despite a complicated geopolitical situation and high oil prices, 2023 should even be an exceptional year for Lufthansa. There is no reason why travel demand should slow down, despite precautions regarding ecological transition. The company has already filled up with reservations for Christmas.

Lufthansa still ahead of Air France-KLM

The same for next year, especially as the group will be able to increase its reception capacity, with the arrival of 30 new aircraft. And then Lufthansa is restructuring and launching a new subsidiary next summer. This new airline, called City Airlines, will allow it to increase its flight offering, particularly in Europe. The first takeoffs of City Airlines are scheduled for July.

Lufthansa will probably remain the leading European air transport group and will, once again, be ahead of its French competitor, Air France-KLM. However, the French company also achieved very good results and had the best summer in its history. But Lufthansa’s growth this quarter was twice as fast as that of the French company.