Tuesday, 02 January 2024 12:17 GMT

Lufthansa Group Reports Strong Profit Growth


(MENAFN) The German airline conglomerate Lufthansa Group announced on Friday a 5% rise in annual profits, reaching €1.96 billion ($2.26 billion).

The company’s principal profitability measure, adjusted earnings before interest and taxes (EBIT), surged 19% compared to the previous year, totaling $2.26 billion.

Revenue for the airline climbed 5%, hitting $42.8 billion during the same timeframe.

According to Lufthansa Group, the main factor behind this profit increase was the airline’s operational stability last year, which had been under strain in the aftermath of the pandemic.

Costs related to compensating passengers for flight cancellations and delays decreased by $418.9 million, helping to reduce financial pressures. However, weaker demand and competitive pricing on transatlantic routes limited some of the financial gains.

Despite the positive EBIT performance, Lufthansa Group’s net profit dropped 3% year-on-year to $1.5 billion due to tax-related impacts.

The company intends to increase its dividend per share by 10% to $0.38, corresponding to a dividend yield of 4% based on the year-end share price.

The airline group, which also encompasses Eurowings, Swiss, Brussels, and Austrian Airlines, transported a total of 135 million passengers in 2025, up from 131.3 million in 2024.

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