Lufthansa Group is sticking to its target of “significantly” improving full-year operating profit after cutting first-quarter losses, but flags challenges in forecasting amid macroeconomic uncertainties around trade.
The airline group cut group underlying EBIT losses by 15% to €722 million ($821 million) on revenue up 10% for the three months ending 31 March 2025.
Lufthansa Group chief executive Carsten Spohr says: “Global demand for air travel continues to grow. In the first quarter, our airlines were able to sell their expanded capacity at higher yields in the market.
”Our revenue improved by 10% compared with the previous year, with Lufthansa Cargo and Lufthansa Technik also contributing with their strong performance. On the North Atlantic, the number of guests rose by more than 7% in the first quarter, with higher load factors and better yields.”
Notably the group’s struggling German network operation Lufthansa Airlines cut adjusted losses 14% during the first quarter to €553 million, a quarter last year which was hard hit by strike disruption in Germany.
Operating losses though increased 2% across the group’s passenger airlines overall to €934 million, as Eurowings losses for the quarter deepened to €201 million and Swiss International Air Lines slipped €10 million into the red. There was though an €84 million and €53 million improvement in profits at Lufthansa’s cargo and MRO units respectively during the first three months of the year.
| Airline | Q1 2025 (€m) | Q1 2024 (€m) |
|---|---|---|
| Source: Lufthansa Q1 2025 report; Operating profit = adjusted EBIT | ||
| Lufthansa Airlines | -553 | -640 |
| Swiss International Air Lines | -10 | 33 |
| Austrian Airlines | -111 | -122 |
| Brussels Airlines | -53 | -58 |
| Eurowings | -201 | -137 |
| Passenger airlines total | -934 | -918 |
| Group total | -722 | -849 |
Lufthansa chief financial officer Till Streichert says: ”We are in a period of high volatility. In this environment, it is good news that we are making progress as planned on issues within our control, such as our turnaround programme at Lufthansa Airlines. At the same time, we are keeping an eye on market risks. We are well prepared to respond should these materialise.”
Lufthansa says macroeconomic uncertainties, particularly the trade tensions between the US, the EU and other regions, are making it difficult to forecast the coming quarters accurately and that visibility for the third quarter remains limited.
”However, it is not just about risks, but also about positive factors that are already supporting our earnings performance today, such as favourable fuel prices and exchange rates,” adds Streichart. ”These can help to offset the financial effects of any changes in demand. Overall, we therefore remain confident that we will be able to achieve a full-year result significantly above the previous year’s level.”
Lufthansa Group posted an adjusted operating result of €1.645 billion in 2024, having twice downgraded its profits outlook during the year amid losses at Lufthansa Airlines.
