According to preliminary figures, the aviation group, which also includes SWISS, Austrian Airlines and Brussels Airlines, was good for around 8.5 billion euros in quarterly revenue. Adjusted for interest, Lufthansa expects a profit of 350 million to 400 million euros for the period, where analysts expected a profit of 218 million euros on average.
A few months ago, the Germans warned about more expensive tickets after the corona lockdowns were lifted everywhere and people wanted to fly more often. Due to the recent chaos in aviation with many canceled flights and airports that cannot cope with the crowds, ticket prices have risen extra fast.
Lufthansa said last week that the airline would only offer seats in the most expensive booking class for the month of July. That move raised the price of even the cheapest return flights between London and Frankfurt to around 1000 euros.
Stock price
The fact that the group has performed above expectations in the past quarter is a boost for aviation. The extra income from more expensive tickets can compensate for the setback that there are far fewer flights this summer than was actually intended. After the publication of the preliminary quarterly report, the stock price of Lufthansa in Frankfurt shot up. Industry peers such as Air France-KLM also gained market value elsewhere.
Lufthansa has already canceled thousands of flights for the period until the end of August. Just like Schiphol, the group is struggling with staff shortages. In the aviation sector, jobs were cut en masse during the corona crisis and now the sector is struggling to recruit new people while demand for flying is picking up again.
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