Lufthansa Group Increases Adjusted EBIT by 27% in Q2 and Confirms Full-Year Outlook

Germany

Strong performance driven by operational stability, strong US demand, and lower oil prices.

The Lufthansa Group has reported a robust second quarter for 2025, increasing its Adjusted EBIT by 27% year-on-year to €871 million. Net profit more than doubled to €1.01 billion, supported by favorable fuel costs and currency effects. Despite a challenging geopolitical and economic environment, the Group confirmed its full-year forecast, projecting results significantly above 2024 levels.

CEO Carsten Spohr stated:

"The Lufthansa Group remains on track. Despite geopolitical tensions and economic uncertainty, we’re reaffirming our positive full-year outlook. 2025 remains a year of transformation, marked by delays in aircraft deliveries, certifications, and engine overhauls. European carriers continue to face competitive disadvantages due to unilateral EU regulations."

He added:

"We increased our operating result by nearly a third in Q2. This success is rooted in the restored operational stability of our airlines, and the dedication of our crews. Lufthansa has seen its best punctuality and reliability figures since 2016, reducing compensation payments and boosting customer satisfaction."

Segment Highlights

Passenger Airlines: Over 61 million passengers flew with Lufthansa Group airlines in H1 2025, up 2% year-on-year. Q2 revenue rose 3% to €8.2 billion, with an Adjusted EBIT of €690 million. Despite a 4% increase in seat capacity, the load factor held steady at 82%. RASK declined slightly (–0.9%) due to increased competition in the European market, while intercontinental revenues remained stable. CASK (excluding fuel and emissions) rose by 4.1% due to inflation and higher personnel costs.

Lufthansa Cargo: Q2 Adjusted EBIT doubled to €73 million, driven by high demand for Asian e-commerce and constrained sea freight capacity. Since June, Lufthansa Cargo has been marketing ITA Airways’ South American bellyhold capacity, with plans to extend across ITA’s network.

Lufthansa Technik: Set a new record with an H1 Adjusted EBIT of €310 million. Q2 revenue rose 8% to €2 billion, driven by continued high demand for maintenance and repairs. Costs increased by 10% due to material shortages and currency impacts.

ITA Airways Integration: Lufthansa’s 41% stake in ITA Airways is already contributing financially. Status benefits and joint bookings have been harmonized, and from September, ITA guests will be integrated into Lufthansa’s digital services via Travel ID.

Turnaround Program on Track

Lufthansa Airlines continues implementing its Turnaround program, aimed at boosting profitability and efficiency. Improvements in operational stability have supported higher revenues, especially from ancillary services (up over 25%). Structural steps include the closure of the Canadian customer service center. Gross earnings effects of €1.5 billion are expected by 2026, rising to €2.5 billion by 2028.

Financial Position Strengthened

Operating cash flow in H1 reached €2.8 billion. Adjusted Free Cashflow stood at €1.04 billion, with net investments of €1.6 billion. Net debt decreased to €5.5 billion, and pension obligations declined to €2.2 billion. Liquidity rose to €11.1 billion.

CFO Till Streichert commented:

"Despite a volatile environment, we’ve achieved a strong quarterly result. Our Turnaround program is progressing well. We continue to monitor macroeconomic risks but maintain our full-year guidance for an operating profit significantly above 2024 and Free Cashflow around last year’s level."

Full-Year Outlook Reaffirmed

The Group anticipates continued strong demand for air travel but warns of limited visibility due to short booking windows and geopolitical uncertainties. It expects:

· Adjusted EBIT significantly above 2024 (€1.6 billion)

· Adjusted Free Cashflow roughly in line with 2024 (€840 million)

· Capacity growth of around 4%

· Net investments of €2.7–3.3 billion, mainly for fleet renewal

By year-end, Lufthansa expects to add up to 10 new Boeing 787-9 aircraft equipped with the Allegris premium product. By summer 2026, 15 Dreamliners are planned to be in service from Frankfurt.

Further Information

Detailed Q2 results and traffic figures are available as of July 31, 7:00 a.m. CEST at:

Financial Reports

Traffic Figures