Lufthansa Group's profit falls 9% in Q3

ISTANBUL

Lufthansa Group, owner of Lufthansa, Eurowings, Swiss, Brussels, and Austrian Airlines, reported a profit decline in the third quarter of 2024.

The group's adjusted earnings before interest and taxes (EBITDA) reached €1.34 billion in July-September, a 9% drop from €1.46 billion in the same period last year.

Despite revenue increasing 5% to €10.73 billion year-on-year, Lufthansa faced cost pressures due to aircraft delivery delays, the ongoing Ukraine conflict, rising expenses, high wages, and uncertainty from the Middle East crisis.

The airline group reported transporting 40 million passengers in the period, up from 38.17 million a year prior.

In total, Lufthansa's profit for the July-September period declined by 37%.