Lufthansa’s Net Profit Declines
Lufthansa, the German airline, reported a decline in net profit for the past fiscal year, reaching €1.4 billion compared to €1.7 billion in the previous year, according to a statement released by the company on Thursday.
The airline’s operating profit, after accounting for taxes and interest, stood at €1.6 billion, down from €2.7 billion the previous year.
Lufthansa’s revenue increased by 6% year-on-year to €37.6 billion, while its passenger numbers rose by 7%, exceeding 130 million travelers.
The company expects a slight increase in its operating profit after taxes and interest for the current fiscal year.
Additionally, Lufthansa announced plans to expand its passenger aircraft seating capacity by 4% compared to last year, which is expected to drive revenue growth.
As Germany’s largest airline, Lufthansa, along with its subsidiaries, ranks as the second-largest airline in Europe in terms of passenger numbers and fleet size. It is also one of the five founding members of Star Alliance, the world’s largest airline alliance, established in 1997.
