Lufthansa Group returns to profit in the third quarter
Lufthansa Group, which operates two airlines out of Newcastle International Airport, has announced its return to profit for the first time since the beginning of the pandemic.
Lufthansa, which joined the North East’s largest Airport back in 2019, operates five flights a week to the European financial hub and German city of Frankfurt. Frankfurt is Lufthansa’s largest hub airport and provides onward connections across the world through the airline’s global network.
Eurowings, also a part of the Lufthansa Group, currently operates twice-weekly flights to the western-German city of Dusseldorf.
People’s desire to travel, and the easing of pandemic-related travel restrictions led to a strong increase in demand for air travel during the summer months. The Group has reported a significant increase in new bookings – with passenger levels already back at 80% of pre-crisis levels.
A strong recovery of business travel was also recorded over the course of the previous quarter, and Lufthansa Cargo achieved a record revenue result.
Passenger loads were further supported by the re-opening of important long-haul markets for travellers from Europe, especially on flights to the USA.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, says:
“With rising demand for business travel and a record result of Lufthansa Cargo we have mastered another milestone on our way out of the crisis: We are back to black. We confirm our leading position among the world’s largest airline groups. Now it is a question of continuing on the path of successful change. I would like to thank our customers for their loyalty and trust, and all Lufthansa employees around the world who are contributing with passion and dedication to mastering the current challenges.”
As well as the recent financial announcement, Lufthansa has re-affirmed its commitment to sustainable corporate action.
The Lufthansa Group has set itself ambitious climate protection targets and aims to halve its net CO₂ emissions by 2030 compared to 2019 and to achieve a neutral CO₂ balance by 2050. To substantiate these net targets further, the Group is joining the so-called “Science Based Target Initiative” (SBTi) to bring the CO₂ reduction path in line with the United Nations Paris Climate Agreement. CO₂ emissions will be continuously reduced based on scientific calculations by the means of fleet renewal and optimization, improved operational efficiency and the use of sustainable fuel.
As a tangible step on this ambitious reduction path, the Group’s Executive Board has decided to proactively acquire sustainable aviation fuel (SAF) for 250 million US-Dollars over the next three years. The Lufthansa Group is already the largest purchaser of sustainable aviation fuel in Europe and, with this decision, confirms its claim to be among the world’s leading airline groups regarding the use of SAF.
Flights to Dusseldorf and Frankfurt, and beyond, from Newcastle International Airport can be booked at Lufthansa.com
Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular North East morning email for free.