On the face of it, the Lufthansa Group has nothing to be ashamed of in the 2024 results published on Thursday. On the contrary, the German giant can congratulate itself on a record year in terms of turnover. And its boss Carsten Spohr is not shy: " Within the Lufthansa Groupwe can look forward to the best year in our history in terms of saleswith a new record load factor ". In fact, the Lufthansa Group posted sales of €37.6 billion. A figure 6% higher than the 35.4 billion euros of 2023, and which can be explained by a largely revised offer...
On the face of it, the Lufthansa Group has nothing to be ashamed of in the 2024 results published on Thursday. On the contrary, the German giant can congratulate itself on a record year in terms of turnover. And its boss Carsten Spohr is not shy: " Within the Lufthansa Groupwe can look forward to the best year in our history in terms of saleswith a new record load factor ". In fact, the Lufthansa Group achieved sales of €37.6 billion. A figure 6% higher than the 35.4 billion euros of 2023, and which can be explained by an offer largely revised upwards. Passengers have responded to this offer, with the Group's airlines carrying no fewer than 131 million passengers (+7%). The load factor even reached a new record of 83.1 %.
Yes, but here's the thing... The German group is not the only one to have increased its wings. In addition to this global competitive context, there are other factors specific to the Lufthansa group. Starting with the strikes at the start of the year which are said to have cost the group's airlines some 450 million euros, a significant increase in costs in Germany, and operational difficulties at several of the group's hubs. Not to mention the regular delays in aircraft deliveries. in recent months. As a result, operating profit fell from €2.7 billion to €1.6 billion, while the operating margin narrowed to 4.4%, compared with 7.6 % in the previous financial year.
This is not enough to undermine the confidence of the German group, whose management can, it is true, count on its strategic strengths, while remaining lucid about the challenges it faces. Carsten Spohr explains: " The continued internationalisation of the Lufthansa Group thanks to theintegration of ITA AirwaysThe significantly improved stability of our flight operations and the growing satisfaction of our customers all show that our strategy is the right one and that our measures are bearing fruit. However, there is no doubt that we must now also turn around the economic situation of our core brand, Lufthansa. For us, 2025 will be a year of transformation, with a clear objective: to further strengthen our position as the world's number one airline outside the USA. ".
The transformation of the Group and the turnaround of the eponymous company will involve a new strategy of umbrella brand. The aim is to unite the Group's various airlines behind a banner that is easier for travellers to identify, that of Lufthansa Group. In this way, Lufthansa aims to make the advantages of the group, its synergies and the integration of the various carriers more tangible for passengers. " In future, the links between the various brands and their interaction within the airline group will be more transparent and clearly recognisable. "Lufthansa Group management promises.
And while the group's flagship carrier is going through a period of turbulence, the results of the other carriers are generally in line. The 2024 report notes: " SWISS almost equalled its record result of the previous year, and exceeded the €800 million mark in adjusted EBIT for the second time. Eurowings repeated its good result of the previous year, once again posting adjusted EBIT of over €200 million. Brussels Airlines produced the highest profit in its history60 million, and Austrian Airlines recorded adjusted EBIT of €76 million". As for " City Airlines "The newcomer will be "the strategic cornerstone for operating European short-haul flights more efficiently and profitably".
This promising momentum must now also be exploited by the Lufthansa Group's flagship airline, where the turnaround programme was launched eight months ago. Management wants to be (relatively) patient about the effect of this plan, and is already warning that it will " will not yet reach its full potential "However, the Lufthansa Group expects these measures to have a gross effect on EBIT in 2025 of around But the Lufthansa Group expects these measures to have a gross effect of around €1.5 billion on EBIT in 2026, and around €2.5 billion in 2028. All this while ensuring that Lufthansa Airlines continues to improve its quality of service, so that passengers also reap the benefits of this transformation.
