First half 2018: All Lufthansa Group airlines achieve substantial result

August 3, 2018

71 2 minutes read

Rosen beim Blumengr0sshändler, die auch von der Cargo angeliefert wurden. Nei Isenburg, den 30.01.2017

Lufthansa Group said it has increased its total first half-year 2018 revenues by 5.2 percent excluding the impact of the first-time application of the IFRS 15 accounting standard just has it has announced six new tourist destinations.

Reported total first half-year revenues amounted to EURO 16.9 billion, broadly in line with the prior-year level.

Traffic revenue for the first six months totaled EURO 13.2 billion, which, excluding the first-time impact of IFRS 15, represents an increase of 7.0 percent. Adjusted EBIT – the key profit metric of Lufthansa Group – was roughly at its prior-year level at EURO 1,008 million. Adjusted EBIT margin amounted to 6.0 percent (compared to 6.1 percent in the first half year of 2017).

Net income for the period also remained broadly stable at EURO 677 million (prior-year period: EUR 672 million).

“The prime features of Lufthansa Group’s development in the first half of 2018 were strong growth and a simultaneous improvement in our unit revenues. Achieving both simultaneously is a significant success,” says Ulrik Svensson, Chief Financial Officer of Deutsche Lufthansa AG. “At our Network Airlines, we were able to more than offset the added burden imposed by higher fuel costs through structural cost reductions and improved results by 26 percent. Without the integration costs at Eurowings, which we willingly accepted to further strengthen our market position in Europe, the Group’s result would have grown.”

In another development, the Group has announced six new tourist destinations departing from Frankfurt and Munich to escape the winter.

A statement by the Group said “If you want to discover the northern lights or the Anti-Atlas mountain range you can now book additional and attractive winter destinations with Lufthansa. Because Europe’s leading airline is expanding its offers from Frankfurt and Munich to include six new tourist destinations. All destinations are seamlessly reachable from Nigeria via Frankfurt.”

Lufthansa, the statement stated, now flies from Frankfurt and Munich to Eilat (Ovda), the attractive holiday resort on the Red Sea in the south of Israel. If you’ve had enough of winter and snow, Lufthansa will take you to this sunshine paradise four times a week (Thursdays and Sundays from Frankfurt and Tuesdays and Saturdays from Munich).

“Starting this winter, Lufthansa will fly to Agadir (Morocco) every Monday and Saturday from Frankfurt and every Sunday from Munich. Agadir is located on the southern Atlantic coast of Morocco, in the foothills of the Anti-Atlas mountains. The capital of the province of Agadir Ida-Ou Tanane is a popular holiday destination featuring golf courses and endless beaches.

MAR, 2010: Speicherburg der Berber (Agadir) in Tasguent im Antiatlas. Die ueber 200 Vorratsraeume des Agadirs sind wie Bienenwaben aufeinandergestapelt und werden noch heute (z.B. fuer Stoffe, Tee, Familienschmuck und Getreide) genutzt. Marokko. [en] Inside the perfectly preserved agadir (fortified granary) of Tasguent in the Anti-Atlas mountains in southwest Morocco. Only the guardian has the keys to the grain chambers, some of which are reached by perilous looking step treads. | MAR, 2010: Inside the perfectly preserved agadir (fortified granary) of Tasguent in the Anti-Atlas mountains in southwest Morocco. Only the guardian has the keys to the grain chambers, some of which are reached by perilous looking step treads. |

“Trieste (Italy), the capital of the Friuli-Venezia Giulia in the north-east of Italy, is considered one of the literary capitals of Europe, and its many ethnic and religious groups have earned it the moniker of ‘early New York’. From the start of the winter, you can fly there with Lufthansa twelve times a week departing from Frankfurt.

“From winter 2018, Lufthansa once again offers flights to Thessaloniki (Greece) from Frankfurt. The town is the ideal starting point for hikes and explorations of the north of Greece, and it is the transit airport for onward travel to Chalkidiki in the south east.

“Edinburgh (United Kingdom) is the new European destination from Munich. From December 2018, Lufthansa will fly to the Scottish capital on Tuesdays and Saturdays in addition to the existing Frankfourt route. Edinburgh not only has an interesting old town, it is also the perfect starting point for visiting the Highlands,” the statement added.