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Lufthansa profits surge on summer travel boom

AFP – Lufthansa reported a surge in third-quarter profits yesterday after a strong summer travel season, and said it expected the boom to continue in the months ahead.

The German airline group booked a net profit of EUR1.2 billion (USD1.3 billon) from July to September, up 47 per cent on the same period a year earlier.

The jump was driven by “strong demand, higher capacity” and more expensive ticket prices, Lufthansa said.

The group – whose carriers include Lufthansa, Eurowings, Austrian, Swiss and Brussels Airlines – said sales rose by eight per cent to EUR10.3 billion, delivering “the strongest quarter in its history in revenue terms”.

A total of 38 million passengers travelled with the group’s airlines in the third quarter, an increase on a year ago but still below the pre-pandemic levels of 2019.

Looking ahead, Lufthansa said it was seeing robust demand for the fourth quarter with bookings already up year-on-year.

“The very good summer demand has extended into October, and demand for air travel during the Christmas season is strong,” it said.

Lufthansa planes parked in Frankfurt Airport, Germany. PHOTO: AFP