FRANKFURT (AFP) – German airline giant Lufthansa said yesterday it “left the pandemic behind” as it reported a robust third-quarter net profit, and predicted strong demand in the months ahead.
Lufthansa made huge losses when the coronavirus brought global air travel to a halt, and had to be bailed out by the German government in 2020.
But a strong rebound in demand as economies re-open has lifted the company’s fortunes faster than expected.
From July to September, the group made a net profit of EUR809 million (USD814 million), compared to a loss of EUR72 million in the same period a year earlier.
Chief Executive Carsten Spohr said the group “left the pandemic behind and is looking optimistically into the future”.
“The desire to travel, and thus the demand for air travel, continues unabated.”
Business segments, from passenger airlines to logistics, contributed to the result, he said.
The results extend the group’s recovery, after it reported its first net profit in August since the pandemic.
Third-quarter revenues almost doubled year-on-year to EUR10.1 billion.