Lufthansa posts profit in Q2 as revenues surge

German airline Lufthansa Group on Thursday reported a net income of €259 million for the second quarter, compared to a net loss of €756 million, reported dpa.

Earnings per share were €0.22, versus a loss per share of €1.26 last year.

The group's adjusted earnings for the quarter before interest, taxes and depreciation (EBIT) were at €393 million, compared to negative adjusted EBIT of €827 million a year ago.

The adjusted EBIT margin rose accordingly to 4.6% versus negative 25.8% last year.

Between April and June, the group said, its results were impacted by irregular costs in relation to disruptions in the flight operations.

For the second quarter, Lufthansa generated turnover of about €8.46 billion, almost three times as much as last year's €3.2 billion.

In the second quarter, about 29 million passengers flew with the group's airlines. This compares to 7 million passengers last year.

In addition, the group noted that it would hire about 5,000 new employees in the second half year of 2022, owing to a rapid increase in air traffic worldwide, in line with its ramp-up plan.

Looking ahead, Lufthansa said it now expects adjusted EBIT to be above €500 million for the full year of 2022, despite continuing uncertainty regarding global economic and geopolitical developments and the further progress of the coronavirus pandemic.

This forecast is in line with current market expectations, the group said.