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The German airline Lufthansa has revealed that it’s on target to reach great profits this year, with their earnings before interest and taxes (EBIT) increasing by a whopping 71.4% year-on-year to €1.7 billion during the first nine months of 2015.
Since announcing their good news, the airline has said that this significant improvement is largely down to the boost in summer sales and the continued dip in oil prices.
Huge boost in profit
Meanwhile the firm’s service companies, Lufthansa Technik and LSG Sky Chefs have also announced their huge boost in profits.
Due to these fantastic results, Lufthansa has updated its Adjusted EBIT for the rest of 2015, between €1.75 billion and €1.95 billion; not including any costs that may have been incurred from strike related issues between now and year-end.
Carsten Spohr, Chairman at the Executive Board and CEO of Deutsche Lufthansa AG, said it’s great to be able to publicise these figures and results which confirm just how on track the company is.
The new realignment of the business has been reflected in these fantastic figures but there’s no question that the lower oil prices have given the profits the boost they needed, he added.
Increasing number of travellers
Mr Spohr also noted that Lufthansa has also seen huge increases in the number of passengers travelling with them during the summer months.
Total profits earned by the Lufthansa Group for the first nine months of the year – up until September 30 – amounted to a staggering €24.3 billion; an increase of 7.4% when compared to 2014.
Of this amount, €19.4 billion was down to traffic revenues; an increase of 5%, which is great news for the German firm.
Are you thinking of travelling abroad with this airline? Don’t forget to book your European travel insurance!
Date Created: 30/10/2015