German airline Lufthansa posted a net profit of €1.26 billion in the third quarter. The result for the period from July to September rose year-on-year by 30 percent and beat expectations. hnonline.sk ↗
The performance was supported by a strong summer season and robust demand for air travel. The company was also helped by higher ticket prices, which partially offset rising costs. However, in the third quarter Lufthansa had to spend more than half a billion euros more on jet fuel than in the comparable period. Der Standard ↗
According to available data, kerosene costs are weighing heavily on the group's finances. On an annual basis, fuel expenses could be roughly two billion euros higher. Nevertheless, the adjusted operating result in the third quarter developed better than expected. Spiegel.de ↗
Lufthansa CEO Carsten Spohr noted that rising fuel prices will affect ticket prices next year. Airlines therefore expect further increases in air travel prices, which are meant to help cover rising operating costs. n-tv ↗
The results show that travel demand remains resilient despite higher prices. However, further financial developments will depend mainly on fuel prices, demand trends, and the company's ability to pass rising costs on to ticket prices.
Lufthansa boosted profit, but airfares may rise next year
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Sources (5)
Čistý zisk spoločnosti Lufthansa v treťom kvartáli vzrástol o 30 %
teraz.sk
| 15:03 03.11.
Kerosin treibt die Kosten: Lufthansa kündigt deutlichen Anstieg von Flugpreisen an
n-tv
| 14:28 03.11.
Lufthansa steigert Sommer-Gewinn trotz teuren Kerosins
Der Standard
| 08:52 03.11.
Lufthansa: Trotz teurem Kerosin steigert Airline ihren Gewinn
Spiegel.de
| 07:37 03.11.
Hohe Treibstoffrechnung: Lufthansa steigert Sommer-Gewinn trotz teuren Kerosins
Tagesspiegel
| 07:19 03.11.
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