Lufthansa Group. Photo: Lufthansa Group Significant financial milestone for Lufthansa
The Lufthansa Group began 2026 with a notable improvement in its first-quarter financial results.
The group’s revenues rose by approximately 8%, totaling €8.7 billion, a record for a first quarter. Operating loss (Adjusted EBIT) narrowed to €612 million, an improvement of €110 million compared to the same period last year. Net profit also strengthened, reaching €665 million, alongside a sharp 65% increase in free cash flow.
The group noted the results were significantly affected by geopolitical developments, foremost the crisis in the Middle East. While fuel prices climbed and weighed on costs, demand increased strongly, especially for passenger flights and air cargo. March saw particularly strong demand, with seat occupancy rates reaching 81.9% and revenue per unit improving.
The group’s airlines benefited from operational flexibility, adapting flight schedules to shifting demand, including adding routes to Asia and Africa. Conversely, some Middle Eastern routes were reduced or canceled. Eurowings also adjusted, transferring capacity from the region to European destinations following a decline in Gulf activity.
In maintenance, Lufthansa Technik maintained stable performance with an operating profit of €158 million, despite challenges such as material and labor shortages. Meanwhile, Lufthansa Cargo saw significant improvement, recording an operating profit of €83 million as demand and yields rose.
Carsten Spohr, CEO of the group, emphasized that despite positive results, challenges remain considerable. He stated that rising fuel prices, operational limitations, and geopolitical tensions create a complex environment, but Lufthansa relies on its multi-hub and multi-airline strategy to remain operationally flexible.
Looking ahead, the group reports strong demand for the upcoming summer season, with a shift as more travelers choose the group’s hubs over Gulf countries. Nonetheless, closure of the Strait of Hormuz and potential fuel shortages have triggered a sharp surge in oil prices, which are expected to increase costs by around €1.7 billion this year.
Despite heightened risk levels, Lufthansa Group maintains a positive outlook for 2026, anticipating significantly higher annual operating profits than last year, supported by stable demand, further route network adjustments, and strict cost management.
This morning, SWISS, a Lufthansa Group member airline, also reported a sharp rise in first-quarter operating profit due to unusually strong demand. However, the airline noted that rising fuel costs and the Middle East outlook are expected to impact results in the following quarter.