Subscribe Login
General Industry

Lufthansa Raises 2022 Profit Outlook On Strong Demand For Air Travel

By Dave Simpson

Lufthansa raised its forecast for full-year adjusted operating profit to over €1 billion on Monday 17 October, boosted by strong demand for air travel that continued its post-COVID recovery.

Details

The company previously expected adjusted operating profit (EBIT) of more than €500 million.

Preliminary results for the third-quarter indicated that the airline almost doubled its year-on-year revenue in the third quarter to €10.1 billion, with quarterly adjusted earnings coming in at €1.1 billion.

Get a FREE Digital Subscription!

Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy

The impact from strikes brought down earnings by around €70 million, according to the statement by the airline.

"Based on the positive development in the third quarter, the current booking situation, which continues to reflect strong demand for air travel in the coming months ... Lufthansa Group is raising its forecast for the full year," the statement said.

Final quarterly results are due on 27 October.

Pilots at Lufthansa's Eurowings began a three-day strike over working hours on Monday 17 October, affecting tens of thousands of passengers - the latest in a series of strikes and strike threats by the airline's employees.

Still, Lufthansa's chief executive Carsten Spohr struck a positive note last week about the future of the sector, stating that the re-opening of Japan to tourists and a rise in demand for business travel was keeping it going despite inflation.

Consumer Demand

Consumer demand for travel in Europe is holding up with consumers willing to pay higher fares, according to recent statements by airlines including Ryanair and easyJet.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.

Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription
Enjoy a FREE Digital Subscription
Enjoy full access to Hospitality Ireland, our weekly email news digest, all website and app content, and every digital issue.
Enjoy a FREE Digital Subscription