Lufthansa Gets Lift from Leisure Travellers in First Quarter

Frankfurt (dpa) – Lufthansa saw a significant rise in ticket sales in the first quarter, helping to slow down the German carrier’s losses as it emerges from the coronavirus pandemic.

Net loss decreased by 44% to €584 million ($619 million) compared to the same period last year, the company announced in Frankfurt on Thursday.

The group generated a total revenue of €5.36 billion, compared with €2.56 billion a year ago.

“The restrictions on air traffic have largely been overcome,” CEO Carsten Spohr said in a statement.

“The past few weeks in particular have clearly shown how great people’s desire to travel is. New bookings are increasing from week to week – among business travellers, but especially for vacation and leisure travel.”

Owing to the rise demand, the group – which also includes SWISS, Austrian Airlines and Brussels Airlines – reaffirmed its full-year earnings outlook.

Earnings from day-to-day operations are expected to continue to improve compared with the billion-euro loss booked in 2021.

However, the management board would not make a precise forecast for this fiscal year, citing lingering uncertainty and the recent extreme jumps in the price of jet fuel.

The company plans to offer around 75% of the pre-crisis capacity in the second quarter. In the summer, around 95% of the pre-crisis capacity will be offered on European short-haul routes and around 85% on trans-Atlantic destinations.

“Destinations in the USA, South America and the Mediterranean are in particularly high demand. This summer, more people are expected to fly on holiday with the airlines of the Lufthansa Group than ever before,” a company statement said.

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Summary

Frankfurt (dpa) - Lufthansa saw a significant rise in ticket sales in the first quarter, helping to slow down the German carrier's losses as it emerges from the coronavirus pandemic.

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