Lh Profits Dip Despite Record Revenue

The Lufthansa Group has reported a nett profit of 1,4 billion R27,7 billion for the 2024 financial year, indicating a decrease of about 18, compared with the 1,7 billion R33,7 billion nett profit achieved in 2023.

However, the group also recorded its strongest revenue in the companys history, 37,6 billion R745 billion, due to a new peak in load factor.

The Group generated an operating profit Adjusted Earnings Before Interest and Tax of 1,6 billion R31,7 billion and an operating margin of 4,4, compared with 2023s operating profit of 2,7 billion R53,5 billion and operating margin of 7,6.

According to the Lufthansa Group, the decline was due to strikes, significantly higher costs and delayed aircraft deliveries, among other challenges.

The group's passenger airlines generated an operating profit of 1 billion R19,8 billion in 2024, compared with 2,0 billion R39,6 billion in 2023. While SWISS, Eurowings, Brussels Airlines and Austrian Airlines achieved operating profits that matched or exceeded their performances in 2023, Lufthansa Airlines is pursuing a turnaround programme to improve efficiency, reduce complexity and increase its product quality.