MIAMI – With a robust rebound in air travel demand, Lufthansa Group (LH) reported an operating profit for the first time during the pandemic.
Thanks to people’s desire to travel and the easing of pandemic-related travel restrictions, Lufthansa Group airlines carried 19.6 million passengers in the third quarter of this year, 46% more than the pre-crisis figure in the same period of 2019, as reported by aa.com.tr.
From July to September, the group’s sales nearly doubled (up 96%) year over year to €5.2bn (US$6bn). The adjusted earnings before interest and taxes (EBIT) of the Lufthansa Group came in at €17m, up from a loss of €1.3bn a year before.
The group’s net loss in the third quarter was €72m, compared to €2bn the previous year.
“Back to Black”
With the continued opening of key long-haul markets for travelers from Europe, particularly the United States, new bookings increased dramatically, reaching roughly 80% of pre-crisis levels by the end of September, according to Lufthansa.
The group is ready to service these key markets with new aircraft. Lufthansa’s new Boeing 787-9 Dreamliner, part of an order of five of the type, is set to start flying under LH colors to Toronto-Pearson Airport (YYZ) during the winter season, replacing the Boeing 747 currently operated by the airline.
Lufthansa Group chief executive Carsten Spohr said in a statement said, “With rising demand for business travel and a record result of Lufthansa Cargo we have mastered another milestone on our way out of the crisis: We are back to black.”
Featured image: Lufthansa D-AIXN Airbus A350. Photo: Julian Schöpfer/Airways