Lufthansa Returns To Profits After COVID-19 Slump
Date
3/4/2023 12:13:26 AM
(MENAFN- Trend News Agency) After two consecutive years of losses, Germany's flagship
airline Lufthansa said on Friday it had once again made a profit in
2022, as international air traffic recovered from the COVID-19
pandemic, trend reports citing xinhua .
Due to 'strong increase in demand for air travel over the course
of the year,' the Lufthansa Group almost doubled its revenues
year-on-year to 32.8 billion euros (34.9 billion U.S. dollars). Net
income was 791 million euros, after hitting minus 2.2 billion euros
in the previous year.
As COVID-19 related restrictions on air traffic have been
dropped worldwide, Germany also dropped requirements of people
arriving from China to take a COVID-19 test. Across the European
Union (EU), such requirement was dropped by the end of
February.
Last year, Lufthansa's passenger numbers more than doubled
year-on-year to 102 million, the airline said. At the beginning of
2022, earnings were still being 'heavily impacted' by the spread of
the Omicron variant and the associated restrictions.
When the COVID-19 pandemic crippled global air traffic in 2021,
Lufthansa was kept afloat by state aid and guarantees of up to 9
billion euros. All loans have since been fully repaid, the company
said, and the German government has sold its 20 percent stake in
the airline.
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