Lufthansa Group posts resilient second-quarter performance despite soaring fuel costs

Germany

Strong travel demand and higher yields support earnings, while rising kerosene prices and geopolitical tensions weigh on profitability

The Lufthansa Group generated revenue of €11.1 billion in the second quarter of 2026, an increase of eight percent compared with the same period last year. Adjusted EBIT reached €383 million despite around €750 million in additional fuel costs and the financial impact of strikes. The Group now expects full-year Adjusted EBIT of between €1.7 billion and €2.2 billion, reflecting continued volatility in fuel prices and booking patterns.

Premium demand offsets part of the cost pressure

Chief Executive Officer Carsten Spohr described the second quarter as being shaped by geopolitical crises and uncertainty but highlighted strong global demand for premium travel. Improved yields, particularly on Asian routes, and investments in premium products helped cushion the impact of sharply higher operating costs. Lufthansa Cargo and Lufthansa Technik also delivered solid performances during the quarter.

Airlines face higher fuel costs

The Group's network airlines operated with slightly lower capacity but achieved a load factor of 81.6 percent while increasing unit revenues by 6.4 percent. Fuel costs rose by more than €600 million year-on-year, contributing to a decline in Adjusted EBIT for the segment to €137 million. Eurowings also faced higher fuel and operating costs despite strong demand for Mediterranean destinations. Flights to the Gulf region remain suspended, with capacity redirected to southern Europe.

Cargo and MRO businesses deliver strong results

Lufthansa Technik increased revenue by 11 percent to €2.2 billion, while Adjusted EBIT improved slightly to €157 million. Lufthansa Cargo also continued its positive momentum, benefiting from sustained demand and higher yields. Adjusted EBIT rose to €116 million, compared with €73 million a year earlier.

Stable balance sheet despite uncertainty

The Group ended June with liquidity of €10.7 billion and net financial debt broadly unchanged from year-end 2025. Chief Financial Officer Till Streichert said robust demand, cost discipline and network optimisation should offset a significant share of higher costs during the remainder of the year, although fuel price volatility and shorter booking windows continue to make forecasting more challenging.