Lufthansa Says 'Left Pandemic Behind', Robust Third-Quarter Net Profit
2 years, 5 months ago

Lufthansa Says 'Left Pandemic Behind', Robust Third-Quarter Net Profit

News 18  

German airline giant Lufthansa said Thursday it had “left the pandemic behind” as it reported a robust third-quarter net profit, and predicted strong demand in the months ahead. The group’s passenger airlines returned to profitability, with an adjusted operating profit of 709 million euros, compared with a loss a year earlier. More strong demand Lufthansa said it believes air travel demand will remain strong in the months ahead, and it expects to make an operating profit in the fourth quarter despite the usual seasonal slowdown. Lufthansa made huge net losses of 6.7 billion euros in 2020 and 2.2 billion euros in 2021 due to the pandemic, but its finances have stabilised earlier than expected.

Profit Demand Million Group Euros German Lufthansa Pandemic Behind Strong Demand  net  euros  airlines  profit  robust  thirdquarter  lufthansa  travel  billion  group  demand  million  left  strong  pandemic

History of this topic

Lufthansa ’IT system failure’ leads to cancelled, delayed flights; chaos ensues
2 years, 1 month ago

Lufthansa ’IT system failure’ leads to cancelled, delayed flights; chaos ensues

Live Mint  

Deutsche Lufthansa AG said ‘group-wide IT system failure’ are leading to widespread flight cancellations on Wednesday. The IT fault at Germany's flagship carrier Lufthansa has caused massive flight delays and disruption at airlines across the group worldwide, the company said on Wednesday, adding that the fault cause was still unclear. Lufthansa took to microblogging site Twitter to announce the IT …

Lufthansa chief predicts ‘sharp rise in demand’ for summer travel
3 years, 11 months ago

Lufthansa chief predicts ‘sharp rise in demand’ for summer travel

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy “The longer the crisis lasts, the greater people’s desire to travel again becomes”: Carsten Spohr, chief …

German Airline Lufthansa Reaches Deal With Pilots On Cost Savings
4 years, 3 months ago

German Airline Lufthansa Reaches Deal With Pilots On Cost Savings

News 18  

BERLIN: Lufthansa and its pilots have reached an agreement that secures jobs until end-March 2022 and could help reduce costs by as much as 450 million euros, pilots’ union Vereinigung Cockpit said on Wednesday. It is surviving on 9 billion euros of state aid, and Chief Executive Carsten Spohr had said earlier this month that the airline would have to …

Lufthansa Plans Forced Job Cuts Amid Massive Financial Loss Due to Air Travel Restrictions
4 years, 7 months ago

Lufthansa Plans Forced Job Cuts Amid Massive Financial Loss Due to Air Travel Restrictions

News 18  

German airline giant Lufthansa said Thursday that demand for air travel will return to pre-crisis levels only in 2024 or even later as it announced forced layoffs on the back of a significant loss. The results are "the worst quarterly results in Lufthansa's 65-year history," said the flag carrier's chief executive Carsten Spohr, as the airline warned of a "clearly …

Lufhansa see revenues drop 80%, no full recovery until 2024
4 years, 7 months ago

Lufhansa see revenues drop 80%, no full recovery until 2024

Associated Press  

FRANKFURT, Germany — German airline group Lufthansa on Thursday reported a net loss of 1.49 billion euros for the second quarter, when the pandemic essentially shut down passenger traffic, and issued a sobering forecast for demand to not reach pre-virus levels before 2024. “Especially for long-haul routes there will be no quick recovery,” CEO Carsten Spohr said in a statement …

Lufthansa looks beyond 2024 for recovery in air travel
4 years, 7 months ago

Lufthansa looks beyond 2024 for recovery in air travel

CNN  

London CNN Business — Demand for air travel will not fully recover until 2024 “at the earliest,” Lufthansa said on Thursday as it unveiled a record quarterly loss and warned that layoffs in its home market, Germany, can no longer be ruled out. The Lufthansa Group posted an operating loss of €1.7 billion in the second quarter, as passenger numbers …

Lufthansa shareholders approve German rescue package
4 years, 9 months ago

Lufthansa shareholders approve German rescue package

Associated Press  

FRANKFURT, Germany — Lufthansa shareholders approved a 9 billion-euro rescue package Thursday that will see the German government take a 20% stake after management told them the airline was running out of money and faced years of reduced demand for air travel. “Without support, a bankruptcy looms in the next few days.” The package will see the government take a …

Lufthansa says it is seeking a $10 billion bailout
4 years, 10 months ago

Lufthansa says it is seeking a $10 billion bailout

CNN  

London CNN Business — The German government could rescue Europe’s leading global airline by taking a 25% stake as part of a €9 billion bailout. Lufthansa confirmed Thursday that it is negotiating a “stabilization package” from Germany’s Federal Economic Stabilization Fund, which is being used to assist companies hit by the coronavirus pandemic. The bailout could include a secured loan …

COVID-19: Lufthansa to ground 150 aircraft
5 years ago

COVID-19: Lufthansa to ground 150 aircraft

The Hindu  

Lufthansa will ground 150 aircraft out of its total fleet of around 770 due to the coronavirus, the German airline said on March 4, confirming what company sources had told Reuters earlier. “We are dynamically adjusting our plans to reflect extraordinary circumstances,” a Lufthansa spokesman said, adding that 25 of the 150 grounded aircraft are long-haul jets. Lufthansa Group airlines, …

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