Lufthansa Group reported an Adjusted EBIT of €383 million for the second quarter of 2026 as significantly higher fuel costs and strike-related disruptions weighed on earnings, despite continued strong demand for air travel and higher passenger yields.
Group revenue rose 8% year-over-year to €11.1 billion, while net profit declined to €123 million, compared to €1 billion in the same period last year. The airline group attributed the weaker performance primarily to approximately €750 million in additional fuel costs and at least €150 million in strike-related expenses.
“Despite our further improvement in load factor and a significant increase in yield, we were unable to fully offset the considerable rise in fuel costs,” said Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG. “The continued strong global demand for air travel—primarily in the premium classes—had a particularly positive impact.”
Premium Demand and Asia Drive Revenue Growth
Lufthansa said premium travel and Asian routes continued to perform strongly during the quarter, with yields on Asia services increasing by more than 13% compared to the previous year.
Although the group’s network airlines reduced capacity by 3%, mainly due to strikes and network optimization, the load factor improved to 81.6%, while unit revenues increased 6.4%, reflecting resilient demand.
The company also highlighted progress in its premium product investments, including Allegris, SWISS Senses, and the FOX service upgrade, as well as ongoing fleet renewal and expansion at Discover Airlines and Lufthansa City Airlines.
Cargo and Technik Deliver Strong Results
Lufthansa Cargo remained one of the group’s strongest performers, benefiting from sustained global air freight demand.
The cargo division increased its Adjusted EBIT to €116 million, up from €73 million a year earlier, as yields climbed 27% year-over-year. Lufthansa Technik also posted another solid quarter, with revenue increasing 11% to €2.2 billion and Adjusted EBIT reaching €157 million, broadly in line with last year.
“The second quarter was characterized by exceptionally high fuel costs and heightened geopolitical uncertainty,” said Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG. “Nevertheless, thanks to robust demand, rising yields and the strong performance of Lufthansa Cargo, we were able to achieve a positive result.”
Stable Balance Sheet Despite Market Uncertainty
Lufthansa ended June with €10.7 billion in available liquidity, unchanged from the end of 2025, while net financial debt, including pension obligations, remained stable at €8.3 billion.
Adjusted free cash flow for the first half of the year reached approximately €1 billion, despite lower operating cash flow driven by weaker earnings and shorter passenger booking cycles.
Full-Year Guidance Updated
Given continued geopolitical uncertainty and increased volatility in fuel prices, Lufthansa introduced a wider earnings outlook for the full year.
The group now expects Adjusted EBIT between €1.7 billion and €2.2 billion for 2026, noting that the upper end of the range would still represent a significant improvement over last year.
Lufthansa also maintained its forecast for approximately €900 million in adjusted free cash flow and expects full-year capacity to remain broadly in line with 2025.
