Lufthansa earnings up but still lagging pre-pandemic levels

This post was originally published on this site

Passenger numbers had more than doubled in 2022 compared to 2021 and net revenue was up to 32.8 billion euros, with Lufthansa mirroring a recovery that many airlines saw towards the second half of last year and expect to continue into 2023.

“Lufthansa is back,” said Lufthansa CEO Carsten Spohr in a statement. “In just one year, we have achieved an unprecedented financial turnaround … Demand for air travel remains high in 2023,” the CEO added.

The company reported a full-year operating profit of 1.23 billion euros ($1.30 billion) for 2022, compared to a loss of 2.3 billion euros the previous year.

Operating profit was 34% lower than the pre-pandemic year of 2019 and group revenue was 10% below that year at 32.77 billion euros.