Lufthansa Posts Profit In Q2, Revenues Surge

Lufthansa Group (DLAKF,DLAKY) on Thursday reported a net income of 259 million euros for the second quarter, compared to a net loss of 756 million euros, and earnings per share was 0.22 euros, versus loss per share of 1.26 euros last year.

The Group's adjusted EBIT for the quarter was at 393 million euros, compared to negative adjusted EBIT of 827 million euros a year ago. The adjusted EBIT margin rose accordingly to 4.6 percent versus negative 25.8 percent last year.

Between April and June, the Group said, its result were impacted by irregularity cost in relation to disruptions in the flight operations.

For the second quarter, Lufthansa generated a turnover of about 8.46 billion euros, almost three times compared to last year's 3.2 billion euros. In the second quarter, about 29 million passengers flew with the Group's airlines. This compares to last year's 7 million passengers.

In addition, the Group noted that it would hire about 5,000 new employees in the second half year of 2022, owing to rapid increase in air traffic worldwide, in line with its ramp-up plan.

Looking ahead, Lufthansa said it now expects adjusted EBIT to be above 500 million euros for the full year of 2022, despite continuing uncertainty regarding global economic and geopolitical developments and the further progress of the Corona pandemic. This forecast is in line with current market expectations, the Group said.

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