Lufthansa Group Q3 Adj. EBIT Rises

(RTTNews) - Lufthansa Group (DLAKF, DLAKY) reported that its third quarter adjusted EBIT increased to 1.13 billion euros from 251 million euros, previous year. Adjusted EBIT margin was 11.2% compared to 4.8%. Net profit was 809 million euros compared to a loss of 72 million euros. Profit per share was 0.68 euros compared to a loss of 0.15 euros. Total revenue was 10.07 billion euros compared to 5.21 billion euros, last year.

The Lufthansa Group increased its earnings forecast for the full year. The Group now expects to report adjusted EBIT of more than 1 billion euros for the full year 2022. The Lufthansa Group also expects to generate adjusted free cash flow of more than 2 billion euros in 2022.

Overall, the Lufthansa Group anticipates that available capacity for the passenger airlines in 2022 will be around 75% of its pre-crisis level. The Group expects revenue to increase in 2022; however, the revenue level of the precrisis period will probably not yet be reached in 2022, the Group noted.

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