Lufthansa Group advantages from sturdy demand for air journey and achieves an working revenue of 383 million euros regardless of considerably increased gasoline prices

Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, says:

“Today, we reflect on a challenging second quarter that was once again marked by multiple geopolitical crises and uncertainties. Despite our further improvement in load factor and a significant increase in yield, we were unable to fully offset the considerable rise in fuel costs. The continued strong global demand for air travel—primarily in the premium classes—had a particularly positive impact. Our numerous investments in premium products such as Allegris, Swiss Senses, and the FOX service upgrade are beginning to pay off. At the core Lufthansa brand, all three elements of the turnaround program are now taking effect: fleet and product renewal is making visible progress, capacity at the highly efficient Discover Airlines and Lufthansa City Airlines is being continuously expanded, and competitiveness is being enhanced through numerous productivity and efficiency measures. At the same time, the positive trend in the cargo business continues. Lufthansa Cargo significantly increased its operating profit, achieving a margin of over 11 percent in the second quarter. Lufthansa Technik also delivered a solid second quarter and increased its revenue by 11 percent. Especially in a volatile environment, it is apparent that our business model is robust, adaptable, and increasingly resilient.”

Second-quarter 2026 consequence formed by excessive kerosene costs

The Lufthansa Group elevated its income within the second quarter of 2026 by eight p.c 12 months on 12 months to 11.1 billion euros (prior 12 months: 10.3 billion euros). The firm recorded an working revenue (Adjusted EBIT) of 383 million euros, a major decline in comparison with final 12 months (prior 12 months: 870 million euros). The main drivers of the earnings decline have been gasoline prices that have been roughly 750 million euros above the prior-year degree, in addition to monetary burdens of not less than 150 million euros attributable to strikes. Offsetting these have been improved yields, which have been greater than 13 p.c above the prior-year degree on Asian routes.

The Adjusted EBIT margin contracted to three.4 p.c (prior 12 months: 8.4 p.c). Group internet earnings additionally declined to 123 million euros (prior 12 months: 1.0 billion euros), primarily because of a decrease working consequence, valuation results, and one-off tax results within the prior 12 months. Adjusted free money stream fell to -365 million euros (prior 12 months: 138 million euros).

Network airways partially offset prices by way of sturdy demand

The Group’s community airways provided 3 p.c much less capability within the second quarter than within the comparable prior-year quarter, with the decline attributable primarily to 6 strike days in April in addition to the group-wide optimization of short-haul operations, together with the removing of CityLine’s flight operations from the schedule. The load issue of the group community carriers edged up barely to 81.6 p.c and unit revenues rose sharply by 6.4 p.c 12 months on 12 months. Both figures underscore sturdy demand. This demand power was pushed specifically by the premium phase and by Asian routes.

Due to the sharp rise in kerosene costs ensuing from the battle within the Middle East, gasoline prices on the community airways rose by greater than 600 million euros 12 months on 12 months. Unit prices excluding gasoline and emissions bills elevated by 3.1 p.c 12 months on 12 months primarily on account of the decrease capability. The key value drivers have been increased personnel bills and depreciation. Taking final 12 months’s capability under consideration, unit prices rose by solely about one p.c, which demonstrates the constant value self-discipline within the core enterprise.

Overall, the community airways generated an Adjusted EBIT of 137 million euros, 490 million euros lower than within the prior 12 months. This determine additionally contains an fairness consequence that was 108 million euros decrease than within the prior 12 months, attributable primarily to unfavorable forex pushed valuation impact of lease liabilities at ITA Airways.

Point-to-point airways file sturdy intra-European demand

Eurowings diminished its capability by six p.c in comparison with the second quarter of the prior 12 months. Unit revenues rose by 9.4 p.c, pushed primarily by a powerful European enterprise. Against the backdrop of the disaster within the Middle East, Eurowings has quickly suspended flights to the Gulf area — which had beforehand seen sturdy progress — and is as an alternative working further routes to the Mediterranean area.

Unit prices excluding gasoline and emissions bills rose by 10.9 p.c, pushed specifically by the diminished capability in addition to increased expenditure on plane upkeep and elevated expenses for charges, catering and personnel in preparation for the introduction of the Boeing 737-8 MAX into the fleet.

The fairness consequence from the SunExpress three way partnership was 29 million euros under the prior-year degree, due primarily to a difficult demand atmosphere on routes to Turkey.

Overall, Adjusted EBIT within the point-to-point airways phase fell by 101 million euros within the second quarter of 2026 to -37 million euros. Here too, the first driver was the sharp rise in gasoline costs, which prompted a price enhance of 71 million euros 12 months on 12 months.

Lufthansa Technik and Lufthansa Cargo put up earnings will increase

Demand for Lufthansa Technik’s upkeep, restore and overhaul companies stays persistently excessive. Revenue rose by 11 p.c 12 months on 12 months to 2.2 billion euros (prior 12 months: 2.0 billion euros), with income from exterior clients even rising by 23 p.c. Operating revenue (Adjusted EBIT) of 157 million euros barely exceeded the prior-year degree (prior 12 months: 149 million euros).

Lufthansa Cargo was in a position to develop its capability within the second quarter by two p.c 12 months on 12 months. This was attributable specifically to elevated cargo area capacities, together with the advertising and marketing of ITA Airways’ stomach capability.

Against the backdrop of the disaster within the Middle East, demand within the air freight enterprise remained persistently excessive. Consequently, yields rose significantly by 27 p.c 12 months on 12 months. Unit prices have been increased than the earlier 12 months, although this was because of passed-on kerosene prices. Overall, Lufthansa Cargo generated a markedly improved Adjusted EBIT of 116 million euros (prior 12 months: 73 million euros).

The Lufthansa Group’s stability sheet stays persistently steady

Operating money stream fell by roughly 600 million euros within the first half to round 2.3 billion euros. The change is primarily pushed by a decrease working consequence in addition to decrease advance ticket funds as of finish of June, owing to shorter reserving cycles in comparison with the prior 12 months. Net investments of 1.0 billion euros (prior 12 months: 1.6 billion euros) have been attributable primarily to remaining funds for eight plane deliveries in addition to advance funds for future fleet additions. Adjusted free money stream within the first half of 2026 stood at 1.0 billion euros, roughly in step with the prior-year degree.

The Group additionally maintained a steady stability sheet within the second quarter of 2026. As of 30 June 2026, internet monetary debt together with internet pension obligations stood at 8.3 billion euros, in step with the extent at year-end 2025. As of finish of June 2026, whole liquidity obtainable to the corporate amounted to 10.7 billion euros, likewise matching the determine at year-end 2025.

Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG:

“The second quarter was characterized by exceptionally high fuel costs and heightened geopolitical uncertainty. Nevertheless, thanks to robust demand, rising yields and the strong performance of Lufthansa Cargo, we were able to achieve a positive result. At the same time, our balance sheet remains consistently strong at 10.7 billion euros in liquidity. Even though uncertainties for the second half of the year remain high, we are confident that the consistent execution of our strategy, cost discipline, network optimizations and persistently high demand will offset a significant portion of the cost increases. However, the growing volatility of fuel prices in recent times, as well as the considerably shorter booking cycles in the passenger airline business, are making forecasting increasingly difficult. For this reason, we are now projecting a full-year earnings range of 1.7 to 2.2 billion euros in Adjusted EBIT — the upper end of this range therefore continues to represent a result significantly above the prior year.”

Outlook: Range added because of excessive kerosene value volatility

The Lufthansa Group now expects an Adjusted EBIT of between 1.7 and a pair of.2 billion euros for fiscal 12 months 2026. The higher finish of the vary continues to signify a consequence considerably above the prior 12 months and thus stays in step with the earlier earnings ambition. The vary displays the heightened uncertainty stemming from excessive kerosene value volatility and shortened reserving cycles within the passenger enterprise. Key influencing components for the additional earnings improvement embrace the trajectory of gasoline prices, unit revenues, the operational stability of flight operations and the air freight enterprise. The Lufthansa Group now expects full-year capability to be in step with the prior-year degree. The forecast for Adjusted free money stream of roughly 0.9 billion euros stays unchanged.

Further data

Further data on the outcomes of particular person enterprise segments might be printed within the report for the second quarter of 2026. This might be printed concurrently with this press launch on 4 August 2026 at 7:00 a.m. CEST at https://investor-relations.lufthansagroup.com/en/investor-relations.html.

Traffic figures for the second quarter of 2026 may even be printed at 7:00 a.m. CEST at