Lufthansa Group has reported a full year 2024 net profit of €1.38 billion or €1.15 per share and a 6.0 percent year-over-year increase in revenue to a record €37.58 billion. At December 31, 2024, the Group had liquidity totaling €11.0 billion.
On Thursday (March 6, 2024), Lufthansa Group reported their fourth quarter and full year financial results for the period ending December 31, 2024. The Group reported a full year 2024 net profit of €1.38 billion or €1.15 per share and a 6.0 percent year-over-year increase in revenue to a record €37.58 billion. During 2024, Lufthansa Group welcomed 131 guests, a 7.0 percent increase versus 2023. The Group’s average load factor rose to a record 83.1 percent, up from 82.9 percent in the previous year. At year-end 2024, Lufthansa Group had total liquidity of €11.0 billion.
In Thursday’s announcement, Deutsche Lufthansa AG’s Chairman of the Executive Board, Carsten Spohr, said,
“Aviation is and remains an industry of the future with sustained strong demand. Especially in unstable times, it enables international understanding through cultural and economic exchange. At the Lufthansa Group, we can look back on the strongest year in our history in terms of revenue, with a new load factor record. I would therefore like to thank our guests for their loyalty and all our employees for their great commitment.
“Looking back, 2024 was a year of two halves for the Lufthansa Group. In the first six months, we still had to cope with a significant decline in operating profit – due, among other things, to strikes, delayed aircraft deliveries and operational challenges at our hubs. The trend was reversed in the course of the year with two consecutive quarters in which we generated revenue of over 10 billion euros each for the first time, and in the fourth quarter we exceeded the previous year’s profit.
“The further internationalization of the Lufthansa Group through the integration of ITA Airways, the significantly improved stability in flight operations and the growing satisfaction of our customers – all this shows that our strategy is right and our measures are taking effect. However, there is no question that we now also have to achieve an economic turnaround for our core brand Lufthansa. This year, 2025, will be a year of transformation for us with a clear goal: to further strengthen our position as the global number one outside the United States.”
Lufthansa Technik benefited from an increase in demand for MRO services in 2024, concluding new contracts with a total volume of €7.5 billion. In 2024, Lufthansa Technik achieved an Adjusted EBIT of €635 million, up from €628 million in 2023. By 2027, the company will build a new plant in Portugal, which will be dedicated to the repair of engine parts and aircraft components, and supporting 700 new jobs. Lufthansa Cargo generated an operating profit of €251 million, up from €219 million in the previous year.
As previously reported, the Group is accelerating the expansion of their multi-hub, multi-airline, and multi-brand model through the rapid integration of ITA Airways. The complete integration of ITA Airways is expected to be completed after only 18 months. The relocation of ITA Airways in Munich and Frankfurt will be completed by the start of the summer flight schedule at the end of March, which will facilitate seamless connections. Mutual lounge access, the merger of frequent flyer programs, and the implementation of codes shares have already been completed. With the integration of ITA Airways, the Group’s fleet will grow by 100 to a total of 830 aircraft.
Source: Lufthansa Group