Results

In the third quarter, the Lufthansa Group increased its revenue by four percent year-on-year to 11.2 billion euros (previous year: 10.7 billion euros). This was the strongest quarter in terms of revenue in the history of the Lufthansa Group. The company generated an operating profit (Adjusted EBIT) of 1.3 billion euros, which is on level with the previous year. The operating margin for this period was 11.9 percent (previous year: 12.5 percent). Operating profit for the first nine months amounted to 1.5 billion euros, up 300 million euros on the previous year.

Consolidated net profit fell to 1.0 billion euros in the third quarter, 12 percent below the previous year's level. In the first nine months of the year, it improved to around 1.1 billion euros (previous year: 830 million euros).

Lufthansa Cargo significantly increases earnings

Lufthansa Cargo continued the positive trend of the first half of the year in the third quarter and generated an operating profit of 49 million euros (previous year: 38 million euros). In addition to solid market demand and increased volumes, the result reflects the consistent focus on a competitive core and profitable, sustainable growth.

In contrast, Lufthansa Technik recorded a decline in operating profit to 130 million euros in the third quarter (previous year: 161 million euros) despite continued strong demand and growing revenues due to tariffs and negative exchange rate effects. The initiatives already launched to mitigate the negative effects of tariffs are being consistently pursued.

Adjusted free cash flow significantly increased, balance sheet strengthened

An improved operating result and tax refunds increased the company's operating cash flow. Together with a lower investment volume, particularly due to delayed aircraft deliveries, this benefited the development of Adjusted free cash flow.

At 1.8 billion euros, the Group generated almost twice as much Adjusted free cash flow in the first nine months as in the previous year (previous year: 1.0 billion euros). In the third quarter, it amounted to 818 million euros (previous year: 128 million euros).

Net debt continued to decline compared with the end of 2024, now standing at 5.1 billion euros (December 31, 2024: 5.7 billion euros). Net pension obligations fell by 440 million euros to 2.1 billion euros due to the higher discount rate. The Group's available liquidity increased by 900 million euros to 11.9 billion euros compared with the beginning of the year.

Outlook

Advance bookings for the fourth quarter indicate a more stable demand environment for all traffic regions. Based on the current booking status, both load factor and average yields are roughly on par with the previous year. Increasing stabilization can also be observed for the important North Atlantic and European traffic regions.

Despite ongoing global uncertainties, the Lufthansa Group confirms its forecast for the full year and, with capacity growth of around four percent, expects an operating result (Adjusted EBIT) significantly above the previous year (previous year: 1.6 billion euros).

The company continues to expect adjusted free cash flow to be at the previous year's level (previous year: 840 million euros). This includes net investments, primarily for the ongoing fleet renewal, of between 2.7 and 3.3 billion euros.