Lufthansa Group carried 131.2m passengers in 2024, back to 90.4pc of pre-pandemic levels, as the group reported a fourth-quarter profit increase of €66m, reaching a total of €468m.
The company achieved record revenue of €37.6bn for the year, driven by a 7pc rise in passenger numbers o 2023.
Operational challenges in 2024, including strikes and aircraft delivery delays, led to a decline in operating profit to 4.4pc.
Lufthansa aims for a turnaround with projected gross profit contributions of around €2.5bn by 2028 through the restructuring of its airline operations.
Positive trends indicate that demand for air travel remains strong, along with expectations of significantly higher operating profit for 2025.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG shared: “Aviation is and remains an industry of the future with sustained strong demand. Especially in unstable times, it enables international understanding through cultural and economic exchange. At the Lufthansa Group, we can look back on the strongest year in our history in terms of revenue, with a new load factor record. I would therefore like to thank our guests for their loyalty and all our employees for their great commitment.
Looking back, 2024 was a year of two halves for the Lufthansa Group. In the first six months, we still had to cope with a significant decline in operating profit – due, among other things, to strikes, delayed aircraft deliveries and operational challenges at our hubs.
The trend was reversed in the course of the year with two consecutive quarters in which we generated revenue of over €10bn each for the first time, and in the fourth quarter we exceeded the previous year’s profit.
The further internationalization of the Lufthansa Group through the integration of ITA Airways, the significantly improved stability in flight operations and the growing satisfaction of our customers – all this shows that our strategy is right and our measures are taking effect. However, there is no question that we now also have to achieve an economic turnaround for our core brand Lufthansa. This year, 2025, will be a year of transformation for us with a clear goal: to further strengthen our position as the global number one outside the United States.”
Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG, shared: “This year, we expect moderate capacity growth of around 4pc. This will help to support our revenue growth, secure valuable market shares, stabilise our earnings and further improve our operations. Nevertheless, current challenges will persist. These include delays in aircraft deliveries and ever-present cost pressures. We therefore regard 2025 as a transition year in which we will lay the foundations for future increases in profitability. Nevertheless, progress will be clearly visible in every respect. This will also be reflected in our Adjusted EBIT, which we expect to be significantly higher than in the previous year.”
