Lufthansa Group financial results 2026: fleet, profit & traffic
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Company-reported performance, unit economics, balance-sheet and fleet metrics from FY2022 to the latest published period. Metrics are in the same order as the Airline Comparison tool.
At a glance
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Performance over time
Headline metrics and correctly labelled unit economics, FY2022 to the latest period.
Metrics
Full-year history
Analysis
What the numbers say
More detail
Additional disclosures
Guidance vs actual
Did the airline deliver?
What management guided at the start of each financial year compared with what was reported. Within the guided range = met; for cost metrics, below the range = beat.
Fleet & orders
Fleet composition
Key events
What moved the numbers
Peers
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FAQ
Frequently asked questions
Methodology
How to read this page
Every figure keeps the company’s own reporting period, currency, entity scope and terminology. Partial periods are not annualised, currencies are not converted and missing KPIs are not estimated. Core metrics follow the Airline comparison tool.
- Fiscal years are labelled by the calendar year in which they end (a year to 31 Mar 2025 appears as FY2025). The exact period end is shown in the first row, with a link to the source document.
- Quarters follow the company’s reporting calendar; the company’s own label is noted beneath the period.
- YoY change compares with the same period one year earlier: % change for amounts, percentage points (pp) for ratios. Green means favourable (for costs, a fall is favourable). n.m. = not meaningful.
- Operating margin uses operating profit or EBIT ÷ revenue. EBITDA, EBITDAR and their margins are separate disclosures and are not substitutes for operating profit or margin. Company-defined measures keep their source labels (marked D).
- Sources: annual reports, interim results and traffic statements. See Data & Research.
Quick answers
Is Lufthansa Group profitable?
Yes. Lufthansa Group reported an operating profit of €1.960bn in FY2025 (year to 31 Dec 2025), a 4.9% margin. In its latest reported period, it reported an operating profit of €383m in Q2 2026 (to 30 Jun 2026), a 3.4% margin.
What was Lufthansa Group’s revenue in 2025?
Lufthansa Group reported group revenue of €39.6bn in FY2025 (year to 31 Dec 2025). For Q2 2026 (to 30 Jun 2026) it reported group revenue of €11.141bn.
Company-reported figures from our airline database. Definitions, currencies and reporting periods differ between airlines; see the tables on this page and the comparison tool for detail.
Text version of the Lufthansa Group data on this page
Lufthansa Group data snapshot
- Scope: Deutsche Lufthansa AG (group)
- Region: Europe
- Business model: Global network group
- Financial year end: 31 Dec
- Reporting currency: EUR
- Source: Annual & interim reports
- Latest period: Q2 2026
- Last updated: 2026-09-24
- Next event: 2026-11-03 · 3rd Interim Report 2026
Latest read
Lufthansa Group delivered record revenue of €39.6 billion and its best operating profit since the pandemic in FY2025. That momentum reversed sharply in Q2 2026: a roughly €750 million fuel cost increase — more than €600 million of it at the Network Airlines — combined with strike-related costs of at least €150 million to cut adjusted EBIT by more than half year on year, even as revenue and unit revenue kept growing. Management has now put a formal number on the damage, guiding full-year 2026 adjusted EBIT to €1.7–2.2 billion, below 2025’s €1,960 million.
Reported metrics by period
Annual results
- FY2025 (31 Dec 2025): Passengers: 135m [Group]; Revenue: €39.6bn (Record revenue) [Group]; Operating profit / result: €1.960bn adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: 4.9% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: 83.2% [Group]; Fleet size: 737 (31 Dec 2025) [Group]; Net profit: €1.3bn (Net income) [Group]; Average fleet age: 14.4 yrs (Average fleet age; 14.0 a year earlier) [Group]; Firm orders outstanding: 219 (Firm orders, delivery 2026–2032) [Group]. Source: Lufthansa Group FY2025 results.
- FY2024 (31 Dec 2024): Passengers: 131m [Group]; Revenue: €37.6bn [Group]; Operating profit / result: €1.645bn adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: 4.4% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: 83.1% [Group]; Net profit: €1.4bn (Net income) [Group].
- FY2023 (31 Dec 2023): Passengers: 123m [Group]; Revenue: €35.4bn [Group]; Operating profit / result: €2.7bn adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: 7.6% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: ≈83% [Group]; Net profit: €1.7bn (Net income) [Group].
- FY2022 (31 Dec 2022): Passengers: 102m [Group]; Revenue: €32.8bn [Group]; Operating profit / result: €1.5bn adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: 4.6% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: 79.8% [Group]; Net profit: €791m (Net income) [Group].
Quarterly and interim results
- Q2 2026 (Q2 2026 · 30 Jun 2026): Revenue: €11.141bn (Q2 2026) [Group]; Operating profit / result: €383m adjusted EBIT (Q2 2026) [Defined]; Operating margin: 3.4% (Adjusted EBIT ÷ revenue) [Calculated]; Load factor: 82.5% (Q2 2026) [Group]; Capacity / ASK: 86.939bn ASK (Q2 2026; −3% YoY) [Group]; RASK / yield: +6.4% unit revenue (H1 2026 YoY); Fleet size: 737 (At 31 Dec 2025) [Group]; Fleet growth / guidance: ≈0% capacity (FY2026 guidance, cut from 0%–2%) [Defined]; Fuel / hedging: ≈80% hedged (2026 fuel) [Group]; Net profit: €123m (Net income) [Group]; Passengers: 35.589m (Q2 2026) [Group]. Source: Lufthansa Group Q2 2026 interim results.
- H1 2026 (H1 2026 · six months ended 30 Jun 2026): Passengers: 60.691m (Passengers) [Group]; Revenue: €22.4bn (H1 2026 revenue) [Group]; Operating profit / result: −€229m adjusted EBIT (Group H1) [Defined]; Operating margin: −1.1% (Adjusted EBIT ÷ revenue) [Calculated]; Load factor: 82.4% (Passenger load factor) [Group]; Capacity / ASK: 157.312bn ASK (Available seat-kilometres) [Group]; Cash / liquidity: €10.727bn (Available liquidity at 30 Jun 2026); Net debt / cash / leverage: €6.697bn net indebtedness (At 30 Jun 2026); Fuel / hedging: ≈80% hedged (2026 fuel requirement). Source: Lufthansa Group Q2 2026 interim results.
- Q1 2026 (31 Mar 2026): Revenue: €8.7bn [Group]; Operating profit / result: −€612m adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: −7.0% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: 81.9% [Group]; Net profit: −€665m (Net result) [Group]. Source: Lufthansa Group Q1 2026 results.
- Q2 2025 (30 Jun 2025): Revenue: €10.3bn [Group]; Operating profit / result: €870m adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: 8.4% (Adj. EBIT margin) [Defined]; Net profit: ≈€1.0bn (Net result) [Group].
- Q1 2025 (31 Mar 2025): Revenue: €8.1bn [Group]; Operating profit / result: −€722m adj. EBIT (Adjusted EBIT) [Defined]; Operating margin: −8.9% (Adj. EBIT ÷ revenue) [Calculated]; Load factor: 78.7% [Group]; Net profit: −€885m (Net result) [Group].
Guidance versus actual
| Period | Metric | Guided | Actual | Outcome / note |
|---|---|---|---|---|
| FY2026 | Adjusted EBIT | “Significantly above” €1,960m (Mar 2026) | €1.7bn–€2.2bn (Aug 2026 range) | Pending · Formal range now below original qualitative goal |
| FY2026 | Capacity growth | 0%–2% | ≈0% (Aug 2026 view) | Pending · Revised down |
| FY2026 | Adjusted free cash flow | Not formally guided | ≈€0.9bn (new guidance) | Pending · Issued with Q2 |
Fleet
Total fleet: 737 aircraft (as of 31 Dec 2025). Firm order book of 219 aircraft for delivery 2026–2032, at 31 December 2025.
| Fleet fact | Value | Context |
|---|---|---|
| Average fleet age | 14.4 yrs | From 14.0 yrs |
| Purchase options | 182 | Additional aircraft |
Orders
| Type | Firm | Options | Note |
|---|---|---|---|
| Boeing 787-9 | 27 | — | Long-haul |
| Airbus A220-300 | 40 | — | Short-haul |
| Boeing 737-8 | 40 | — | Short-haul |
| Boeing 777-9 | 20 | — | Long-haul |
| Airbus A321neo | 18 | — | Short-haul |
| Airbus A350-900 / -1000 | 37 | — | Long-haul |
| Airbus A320neo | 30 | — | Short-haul |
| Boeing 777-8F | 7 | — | Freighter |
Five-year reported results
€ million unless stated otherwise. Financial year ends 31 December.
| Year | Revenue | Adjusted EBIT | Net income | Passengers | Load factor |
|---|---|---|---|---|---|
| 2021 | 16,800 | −1,700 | −2,200 | 47m | 61.6% |
| 2022 | 32,800 | 1,500 | 791 | 102m | 79.8% |
| 2023 | 35,400 | 2,700 | 1,700 | 123m | ≈83% |
| 2024 | 37,600 | 1,645 | 1,400 | 131m | 83.1% |
| 2025 | 39,600 | 1,960 | 1,300 | 135m | 83.2% |
Per-passenger economics
Calculated only where revenue and passenger counts are reported on a compatible basis.
| Year | Revenue / passenger | Passenger airline revenue | Passenger airline op. profit |
|---|---|---|---|
| 2024 | ≈€287 | €29.2bn | €1.06bn |
| 2025 | ≈€293 | €30.1bn | €1.1bn |
Q2 2026 reported results
€ million unless stated otherwise. Three months to 30 June 2026.
| Metric | Q2 2026 | Year on year | Context |
|---|---|---|---|
| Revenue | 11,100 | +8% | Unit revenue +6.4% |
| Adjusted EBIT | 383 | −56% | 3.4% margin, from 8.4% |
| Net income | 123 | −877 | Down from ≈€1.0bn |
| Load factor | 81.6% | Improved | Capacity −3% |
Quarterly history
Standalone quarterly periods, € million.
| Quarter | Revenue | Adjusted EBIT | Net result | Load factor |
|---|---|---|---|---|
| Q1 2025 | 8,100 | −722 | −885 | 78.7% |
| Q2 2025 | 10,300 | 870 | ≈1,000 | Not separately disclosed |
| Q1 2026 | 8,700 | −612 | −665 | 81.9% |
| Q2 2026 | 11,100 | 383 | 123 | 81.6% |
Segment adjusted EBIT, Q1 2026
| Segment | Q1 2026 | Year on year |
|---|---|---|
| Network Airlines & Eurowings (combined passenger business) | Not separately disclosed | Capacity nearly stable |
| Point-to-Point Airlines (Eurowings) | −€215m | −€14m |
| Lufthansa Cargo | €83m | +€21m |
| Lufthansa Technik | €158m | Flat |
Cost bridge
Selected cost items reported by the company.
| Metric | Amount | Context |
|---|---|---|
| Q2 2026 fuel cost increase | ≈€750m | Over €600m at Network Airlines alone |
| Strike-related costs, Q2 2026 | €150m+ | Additional financial burden |
| 2026 fuel cost headwind (full year) | ≈€1.7bn | ≈80% hedged |
| FY2025 irregularity cost saving | €362m | Lower disruption costs vs 2024 |
Balance sheet and cash flow
| Measure | Value | Context |
|---|---|---|
| H1 2026 operating cash flow | €2.3bn | Down ≈€600m year on year |
| H1 2026 adjusted free cash flow | ≈€1.0bn | Roughly level with prior year |
| Q1 2026 adjusted free cash flow | €1.4bn | +65% year on year |
| FY2025 dividend | €0.33/share | +10%, 30% payout ratio |
Five-year arc
Lufthansa Group’s post-pandemic recovery has been a story of revenue outrunning profit: revenue more than doubled from 2021 to 2025, but adjusted EBIT has been volatile, peaking in 2023 relative to the scale of the business before slipping back in 2024 and only partially recovering in 2025. Net income has followed a similar pattern, actually declining slightly in 2025 despite record revenue and a higher adjusted EBIT, a sign that costs below the operating line — financing, tax, or one-off items — are eating into the improvement. Passenger volumes have grown steadily and load factor has been essentially flat since 2023 in the low 80s, well short of the ultra-low-cost carriers on this site, consistent with a network-carrier model built on connecting traffic and premium cabins rather than maximum seat utilisation.
Seasonality
Lufthansa’s seasonal pattern is unmistakable: Q1 is reliably loss-making for the group and Q2 carries the bulk of first-half profit, so the scale of the Q2 2026 shortfall — adjusted EBIT down from €870 million to €383 million on the same seasonally strong quarter — is what forced management to formally guide full-year profit lower rather than simply reaffirm a qualitative “above prior year” outlook.
Segments
The MRO and cargo units continue to outperform the passenger network on a relative basis, with Lufthansa Cargo swinging from a loss to a solid profit and Technik holding steady, underlining the diversification argument the group makes to investors even as core passenger flying absorbs the fuel and strike cost shock.
Outlook
What to watch:
- Fuel and hedging: roughly 80% of the assumed €1.7 billion 2026 fuel headwind is hedged, but the remainder is unhedged exposure into year-end.
- Labour relations: Q2 2026 strike costs of over €150 million show industrial action remains a live earnings risk.
- Capacity discipline: full-year capacity growth guidance was cut to roughly flat from 0%–2%.
- Fleet renewal pace: 219 aircraft on firm order through 2032 will reshape unit costs as older jets retire.
Peers
- IAG — Global network group · Europe
- Air France — Global network · Europe
- KLM — Global network · Europe