Profit for Lufthansa is expected to rise as demand revives the economy

Thanks to steady high demand throughout the fall, Lufthansa Group has raised its profit projection for 2022.

The airline operator owning Austrian Airlines, Swiss, Brussels Airlines, and Eurowings has updated its profits forecast for 2022, predicting an estimated revenue before interest and tax (EBIT) of approximately €1.5 billion.

Following a successful summer, Lufthansa said in October that it expected to have an EBIT of over €1 billion in 2022. The corporation only expected to make a minimum half a billion euros in profit for the year back in August.

However, despite the economic downturn, the company has maintained "far above pre-crisis level" average yields for passenger flights, as explained in a recent statement.

In terms of earnings, the months of October and November were a huge success. According to an announcement made by by Lufthansa to it shareholders, "the booking situation for the coming months indicates a continuation of the positive trend in the group’s passenger business".

As of September, when the German government gave away its last share in Lufthansa Group, the airline was once again wholly owned by private investors.

On March 3, 2023, the airline company will report its fiscal year 2022 results.

 

source: breakingtravelnewseurope.com