Lufthansa Group posted positive results for the second quarter of the year, with operating income up 5% to €11.2bn. For the first half of the year, operating income was up 6% to €20bn.
The company's earnings before interest and taxes (EBIT) swung to a positive €120 million in the first half, compared to a negative €212 million last year, while its second quarter EBIT was up 31% to €861 million. Net profit swung to a positive €127 million in the first half, compared with a negative €265 million, while second quarter net profits more than doubled from €469 million to €1bn.
The company said its investment in ITA Airways is “already contributing to the group's financial success”. Lufthansa Group closed a deal to acquire a 41% stake in the Italian airline in January this year.
“The improvement in earnings was mainly due to the 4% expansion of the flight programme in the passenger business, a positive result from the investment in ITA Airways of €91 million, partly due to currency effects, and the doubling of the operating result of the logistics business segment compared to the previous year,” the group said in a statement.
“Although the second quarter was again marked by geopolitical crises and economic uncertainties, we are today confirming our positive outlook for the full year,” said Deutsche Lufthansa chairman and CEO Carsten Spohr. “However, 2025 will remain a year of transformation for us, as delays in aircraft deliveries, certifications, and engine overhauls continue. The disproportionate burden on European airlines due to unilateral EU regulations also continues to put us at a disadvantage in global competition.”
However, tariffs along with the US dollar exchange rate and ongoing material shortages had driven a 10% increase in expenses for its MRO segment. The company said tariffs on aluminium and steel represented a “challenge” to Lufthansa Technik's costs. Despite this, Lufthansa Technik's revenues rose 8% to €2bn in the second quarter, up from €1.8bn. The company achieved a record adjusted EBIT, of €310 million in the first half. This was driven by a “persistently high level of demand” for air travel.