Lufthansa: record profits and rising fares

German airline Lufthansa is deservedly pleased with its success in the second quarter of 2023, announcing a record adjusted profit of €1.1 billion before interest and tax. This result was 177% higher than the same period in 2022, making it the company's best result in recent years.

Lufthansa executives say the company's profitability will continue to increase in 2023, even compared to the "record level of last year". The company predicts that demand for travel will remain strong until the end of the year after the pandemic and high fares.

Lufthansa, which owns Eurowings and Swiss, carried more than 55 million passengers in January-June, around a third more than in 2022.

Carsten Spohr, CEO of Lufthansa, announced the company's plans to recruit an average of 1,000 new employees per month in 2023, in the context of what is expected to be "one of the three best years in the history of the Lufthansa Group".

Lufthansa acknowledged that the proposed capacity of its airlines will be lower than previously forecast due to "persistent bottlenecks in the European air traffic system".

Lufthansa plans to bring the world's two largest twin-aisle passenger aircraft, the Airbus A380, back into service later this year as long-haul demand recovers. In addition, the company plans to introduce new Boeing 787 and Airbus A350 aircraft next year.

Lufthansa continues to demonstrate its ability to meet the challenges of the pandemic and increased market demands. Record profits and an optimistic outlook for the future reflect the company's stable position. However, the company is also facing challenges from rising costs and staff shortages. Successfully addressing these challenges will help Lufthansa to maintain its leading position in the airline market.