A loss of 427 million euros in the first half of 2024, an estimate of adjusted operating profits that fluctuates between 1.4 and 1.8 billion euros at the end of the year. These are some of the most significant numbers contained in the financial statement published in recent days by the German aviation group Lufthansa. A step back compared to the often 2023 period: when the budget balance was positive for 149 million euros and 2.2 billion in profits were estimated.

The economic data are communicated a few days after the long-awaited green light for the marriage with the Italian flag carrier ITA Airways by the European Competition Commission, Margrethe Vestager. Brussels had authorized, in a conditional manner (with some transfers so as not to disturb competition), the purchase of 41% of the Italian airline, through a capital increase of 325 million euros put on the table by Lufthansa.

The German airline does not appear to be shining economically. The Group's data in the second quarter show an adjusted Ebit of 686 million euros (it was 1.1 billion in the same period of 2023), an adjusted cash flow of 573 million, a profit of 213 million euros. This is regarding the Group's accounts, but Lufthansa Airlines has a balance sheet of around 300 million euros lower than the previous year (515 million euros).

The Germans explain that these negative repercussions on the accounts are due to the decline in market returns in all traffic regions, especially in Asia, while the unit costs of the group's passenger companies in the second quarter were at the previous year's level. In short, a lot depends on the development of Lufthansa Airlines' profits, but the fourth quarter is generally driven by the German cargo carrier, so 2024 should end on a positive note, according to estimates.

On the subject, see also the article published by AVIONEWS.