Overview

• Lufthansa's third-quarter operating profit fell to 1.3 billion euros, down 9% from the previous year, despite achieving the highest quarterly revenue in its history at 10.7 billion euros.
• Increased operational and staff costs, along with competition and low yields in the Asia-Pacific market, have significantly impacted the airline's profitability.
• CEO Carsten Spohr announced a cost-cutting program aiming to improve operational profit by 1.5 billion euros by 2026, focusing on efficiency and reducing complexity.
• The airline group transported approximately 40 million passengers in the third quarter, a 6% increase from 2023, with fleet utilization reaching a record 88% in August.
• Lufthansa plans to address capacity constraints by leasing additional aircraft and shifting more flights to subsidiaries with lower operating costs.