Lufthansa Group has reported record-breaking revenue for 2024, achieving a total of EUR 37.6 billion, the highest in the company’s history. The airline group posted an operating profit (Adjusted EBIT) of EUR 1.6 billion for the full year, with a strong fourth quarter contributing EUR 468 million—an increase of EUR 66 million compared to the previous year.
The Lufthansa Group airlines carried 131 million passengers in 2024, a seven percent increase from the previous year. The load factor also reached a record 83.1%, with peak months July and August achieving almost 88%. Despite industry-wide capacity expansion leading to a 2.6% drop in average yields, revenue performance improved as the year progressed.
However, the group’s flagship Lufthansa Airlines faced challenges, with earnings declining by EUR 948 million due to delayed aircraft deliveries, increased operational costs, and compensation payments for flight disruptions. Despite this, other carriers in the group, including SWISS, Eurowings, Brussels Airlines, and Austrian Airlines, maintained strong performance, with Brussels Airlines posting its highest profit ever at EUR 60 million.
CEO Carsten Spohr highlighted 2024 as a year of two halves, where initial setbacks due to strikes and delays were offset by improved revenue in the latter part of the year. He emphasized the airline’s ongoing transformation efforts, stating, “2025 will be a year of transformation for us with a clear goal: to further strengthen our position as the global number one outside the United States.”
To enhance efficiency and cost-effectiveness, Lufthansa (the airline) continues its turnaround program, focusing on operational stability and productivity improvements. Early 2025 results indicate increased punctuality and the establishment of City Airlines as a strategic move for short-haul operations.
The integration of ITA Airways into the Lufthansa Group is also progressing rapidly, with full integration expected within 18 months. The relocation of ITA Airways’ operations to Munich and Frankfurt is set to be completed by the start of the summer schedule, enhancing connectivity within the group.
Lufthansa Technik capitalized on increased demand for maintenance, repair, and overhaul (MRO) services, securing new contracts worth EUR 7.5 billion. The company reported an Adjusted EBIT of EUR 635 million and plans to open a new facility in Portugal by 2027, creating 700 new jobs.
Lufthansa Cargo saw a steady recovery in the airfreight market, generating an operating profit of EUR 251 million, up from EUR 219 million the previous year. Growth was particularly driven by the e-commerce sector in Asia, allowing the company to strategically shift cargo capacities from the North Atlantic to the Asia-Pacific region.
Financial Stability and Shareholder Returns
The Lufthansa Group’s financial position remains robust, with available liquidity increasing to EUR 11.0 billion by year-end. Despite major investments in fleet modernization, the company maintained stable net debt levels at EUR 5.7 billion.
For 2024, the Executive Board and Supervisory Board have proposed a dividend of EUR 0.30 per share at the Annual General Meeting in May 2025, maintaining the same level as the previous year.
Outlook for 2025
Lufthansa Group anticipates continued strong demand for air travel in 2025, supported by a four percent increase in seating capacity. The airline also plans to take delivery of a new aircraft every two weeks as part of the largest fleet modernization in its history.
Additionally, a new umbrella brand strategy will be introduced to enhance brand synergies within the Lufthansa Group, making inter-airline connections more seamless for passengers.
Chief Financial Officer Till Streichert noted that while 2025 will be a transition year, the company expects Adjusted EBIT to be significantly higher than in 2024. With increased fleet efficiency, operational improvements, and strategic expansions, Lufthansa Group is positioning itself for sustained profitability and growth in the years ahead.
