Lufthansa reports higher profits and turnover in the third quarter. Jet fuel costs are weighing on results
The German airline has revised its year-end outlook downwards. The results were also bolstered by the cargo sector, whilst Lufthansa Airlines continues to face difficulties.
The Lufthansa Group closed the third quarter of 2026 with an adjusted operating profit of €1.4 billion, up 6 per cent from €1.3 billion in the third quarter of 2025 and exceeding analysts’ expectations. Revenue for the quarter rose by 9 per cent to €12.2 billion from €11.2 billion in the same period last year, despite a 2 per cent fall in passenger numbers to 41.050 million from 41.701 million.
In the July–September quarter, the group recorded a 30 per cent rise in net profits, which stood at €1.26 billion, driven by strong demand for ‘premium’ tickets to Asia and North America.
Unit revenue (yield) in the air transport sector rose by 7 per cent: according to Lufthansa, this is due to strong demand for premium tickets and flights to Asia and North America. This increase, combined with rigorous cost management, has made it possible to offset the €543 million rise in fuel costs recorded during the quarter, with 80 per cent of costs covered for the quarter and 60 per cent for 2027. For the year as a whole, the airline estimates fuel costs at €9.3 billion, two billion more than before the conflict.
Among the difficulties encountered during this period were a series of pilots’ strikes in recent months and the conflict in the Middle East, which continues to drive up fuel prices. What was supposed to be a year of stabilisation has turned into a prolonged and more difficult period to manage: CEO Carsten Spohr has warned that 2027 will be ‘another year of transformation’.
One weakness lies with the flagship airline (Lufthansa Airlines), where high operating costs, strikes by cabin crew and unprofitable short-haul routes are eroding the profits generated by long-haul flights. The company is therefore shifting capacity from Lufthansa to lower-cost carriers, such as Discover and City Airlines.
