Earlier this week saw the Lufthansa Group report a 1.5bn EUR operating profit for 2022, marking the financial turnaround of the group post-COVID.
Such strong profitability has been seen off the back of a busy Summer 2022 season, with revenues skyrocketing, as well as handling more passengers compared to 2021.
Without further ado, let’s get into the numbers…
Spohr: Lufthansa Is Back!
Before we get into the numbers, here is a brief overview from CEO Carsten Spohr on the financial performance of the group:
“Lufthansa is back. In just one year, we have achieved an unprecedented financial turnaround. With an operating profit of 1.5 billion euros, the Lufthansa Group has achieved a much better result than expected.”
“Demand for air travel remains high in 2023. We are investing billions in new fuel-efficient and state-of-the-art aircraft.”
“With innovative services, a new premium cabin on board, and new digital tools, we want to remain the quality and innovation leader in our industry.”
“Likewise, it is our ambition to drive forward effective climate protection, for example, by being the first airline group worldwide to introduce Green Fares.”
“The Lufthansa Group is already number one in Europe and number four worldwide. For our guests and our employees, we want to continue to grow, shape the future and expand our market position.”
The Numbers…
Revenue within the Lufthansa Group nearly doubled to 32.8 billion EUR, with the previous year being recorded at 16.8 billion EUR.
The 1.5bn EUR in operating profit is a vast improvement from the 1.7bn EUR loss observed in 2021.
The Lufthansa Group carried 102 million passengers in 2022, which is more than double what was carried in 2021, which was 47 million.
With that as a brief look into the numbers, you can see that the Lufthansa Group is back to normal on a post-pandemic basis.
Looking Ahead to Summer 2023…
All eyes will be on the Lufthansa Group, especially ahead of the Summer 2023 season, to see where else they can capitalize on previous success from last year.
On the mainline Lufthansa side, 5,200 flights per week will be operated across this busy period, especially as airlines within the group return to pre-pandemic capacity and more.
Other carriers across the Group will also be ramping up frequencies ahead of the Summer, especially with this being caused by additional aircraft deliveries.
It will definitely be one to watch out for.
Overall…
It remains clear that the Lufthansa Group is in a much better financial position than they were in 2020 and 2021, as the COVID-19 pandemic decimated its financials.
From requiring bailouts to now positive profit, all eyes are now on the Lufthansa Group to see where else they can expand their successes.
But for now, it is full steam ahead, especially as we get ever so closer to the beginning of busier Summer demand within Europe and beyond.
