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Cargo Newswire

Lufthansa Group Closes 2024 with Strong Financial Performance and Optimistic Outlook for 2025

March 6, 2025
in Air Cargo Statistics, Airlines
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Lufthansa Group has wrapped up a record-breaking year with a significant increase in revenue, reporting the highest figure in its history at €37.6 billion for 2024. The company posted a 7% growth in passenger numbers, reaching 131 million, despite challenges in the first half of the year. The airline’s fourth-quarter profit surged, marking a 66 million increase, pushing its total profit for the year to €468 million.

Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, attributed the strong performance to the resilience of the aviation sector. “Aviation remains a future-driven industry with sustained global demand,” Spohr stated. He also acknowledged the contributions of passengers and employees, who played a crucial role in achieving this success.

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The Group’s revenue growth was driven by a peak in load factors and expanded capacity across its airlines. The passenger load factor reached an impressive 83.1%, a company record. However, the overall operating profit for the year was €1.6 billion, a decline from the previous year due to strikes, delayed aircraft deliveries, and higher costs, particularly in Germany. Nevertheless, the company ended the year with a solid net profit of €1.4 billion.

Lufthansa Group’s Passenger Airlines Shine

The airline division showed a mixed performance, with Lufthansa Airlines facing significant operational challenges. Delayed aircraft deliveries and increased personnel costs impacted the airline’s earnings. However, other subsidiaries such as SWISS and Eurowings reported strong profits, with SWISS posting a remarkable €800 million in operating profit.

Despite these hurdles, the Lufthansa Group’s turnaround program for Lufthansa Airlines, initiated in mid-2024, has shown promising early results. With a focus on enhancing operational stability, Lufthansa Airlines has already seen improvements in punctuality and flight regularity.

Strong Performance from Lufthansa Technik and Cargo

Lufthansa Technik, the world’s leading provider of MRO (maintenance, repair, and overhaul) services, continued to benefit from high demand due to increased global air travel. The division secured €7.5 billion in new contracts, ensuring future growth. Lufthansa Cargo also saw positive results, with operating profit rising to €251 million, driven by strong e-commerce demand from Asia.

Looking Ahead: A Transformational 2025

The Lufthansa Group is setting its sights on an exciting future. With ambitious plans to modernize its fleet, the company expects to receive a new, fuel-efficient aircraft every two weeks in 2025. Additionally, investments in customer experience, such as the ongoing enhancement of SWISS’s Economy Class and the introduction of Allegris on Airbus A350s, aim to improve satisfaction levels.

In 2025, the company anticipates moderate capacity growth of 4%, coupled with further operational improvements. The Group is also preparing for the completion of its integration of ITA Airways, which will enhance its European network. A new umbrella brand strategy will aim to further streamline operations, making the Group’s diverse services more accessible to passengers.

“We expect 2025 to be a transition year for us,” said Till Streichert, CFO of Lufthansa Group. “While there are still challenges to address, the foundations for future profitability are being laid now.”

The company forecasts that its earnings will be significantly higher in 2025, marking a promising start to what it believes will be a year of transformation.

Key Highlights:

  • Lufthansa Group achieved a record €37.6 billion in revenue for 2024.
  • Passenger numbers increased by 7%, reaching 131 million.
  • Fourth-quarter profit increased by €66 million to €468 million.
  • Full-year operating profit of €1.6 billion, with a net profit of €1.4 billion.
  • Proposed dividend of €0.30 per share for the 2024 fiscal year.
  • 2025 outlook includes moderate capacity growth and significant earnings improvement.

As the airline navigates through 2025, Lufthansa Group’s continued focus on transformation, fleet modernization, and strategic partnerships promises to solidify its position as one of the world’s leading aviation groups.

Tags: Air CargoAir Cargo NewsCargo StatisticsLogistics NewsLufthansa CargoLufthansa Group
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Devender Grover

Devender Grover

Devender was born in the year when the Beatles Group was formed. He holds two master’s degrees in English Literature and Public Administration. He also has an Honors degree in English Literature and a post-graduate diploma in Corporate Communications and Public Relations. He was closely associated with the Indian State Transport Undertakings and Ministry of Transport in his role as Corporate Communications and PR specialist for over two decades handling domestic and international organizations. He ventured into business forming his own Media House, Profiles Media Network Private Limited which is now a twenty years old company. Excelling as an editor, Marketing, PR, Anchor, and Advertising specialist, he is now expertly navigating the world of social media. A widely traveled professional internationally, Devender has a deep understanding of the Air Cargo, Cargo Business, Cargo Airports, Freighters and Cargo Industry at large.

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