Lufthansa Q3 Preliminary Adj. EBIT Surges; Raises FY Adj. EBIT Forecast

(RTTNews) - Lufthansa Group (DLAKF, DLAKY) reported that its third quarter preliminary adjusted EBIT surged to about 1.1 billion euros from the previous year's 251 million euros. The latest quarter result included an impact from strikes of around 70 million euros.

Quarterly revenue almost doubled to 10.1 billion euros from 5.2 billion euros in the prior year.

Quarterly adjusted free cash flow was around 400 million euros compared to 43 million euros last year.

Lufthansa Group raised its forecast for the full year, based on the positive development in the third quarter and the current booking situation. The current booking situation continues to reflect strong demand for air travel in the coming months and the expectation of another record result from Lufthansa Cargo in 2022.

The company now expects annual adjusted EBIT of over 1 billion euros. The company said in August it expected adjusted EBIT to be above 500 million euros for the full year of 2022.

The Group also expects an adjusted Free Cash Flow of over 2 billion euros in 2022.

The Group will present its final quarterly results on October 27, 2022.