By Mauro Orru
Deutsche Lufthansa reported earnings ahead of analysts’ expectations for the third quarter after what it called a record summer, and said it expects demand for air travel to remain strong in the coming months, even in premium cabins.
The German carrier group on Thursday posted revenue of 10.28 billion euros ($10.87 billion) for the three months to the end of September, up 8% on year. The group’s airlines, which include Swiss, Austrian Airlines, Brussels Airlines and Eurowings aside from the eponymous Lufthansa, carried more than 38 million passengers in the quarter compared with 33 million in last year’s third quarter.
Net profit surged 47% to EUR1.19 billion in the quarter. Adjusted earnings before interest and taxes–Lufthansa’s preferred measure of profitability–climbed to EUR1.47 billion from EUR1.12 billion, generating a 14.3% adjusted margin.
Analysts had forecast revenue of EUR10.84 billion, profit of EUR1.04 billion and adjusted earnings of EUR1.43 billion, according to a company-provided consensus.
Lufthansa said it expects capacity in the current quarter to reach around 91% of 2019 levels, and confirmed its adjusted EBIT forecast for the year of more than EUR2.6 billion.
Write to Mauro Orru at [email protected]
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