Lufthansa eyes record summer for holiday travel after positive 1Q 2022 results

©Lufthansa

Despite a slow start to the year due to the Omicron variant of the COVID-19 pandemic, Lufthansa saw a noticeable increase in customer demand, particularly in March, for both holiday travel and also the business travel segment. Compared to the previous year, the Group more than doubled revenue to €5.4 billion (1Q 2021: €2.6 billion).

Adjusted EBIT amounted to €-591 million, and a further noticeable improvement compared to the prior-year quarter, despite the effects of the pandemic (1Q2021: €-1.0 billion). The Adjusted EBIT margin increased to -11.0% (previous year: -40.9 percent). Net income of €-584 million was also an improvement compared to the previous year (1Q 2021: €-1.0 billion). 

Group airlines more than quadrupled passenger numbers in the first quarter compared to the same period in 2021. Between January and March, Lufthansa Group airlines catered for 13 million passengers (1Q 2021: 3 million). As a result of the strong increase in demand for air travel during the first quarter, the available capacity was also significantly increased towards the end of the quarter. Between January and March 2022, passenger airline capacity averaged 57% of the pre-crisis level (171% up on the previous year).

The Adjusted EBIT of the passenger airlines amounted to €-1.1 billion euros (1Q 2021: -€1.4 billion). The result was burdened by low seat load factors especially at the beginning of the quarter, rising fuel costs and the non-recurrence of short-time work subsidies in the prior year. However, yields were close to pre-crisis levels, while on long-haul, yields exceeded the 2019 level.

For the full year 2022, the Lufthansa Group is planning an annual average passenger airline capacity of around 75%. In the summer, around 95% of the pre-crisis capacity will be offered on European short-haul routes and around 85% on the Transatlantic.

Email Post to a Friend Email Post to a Friend