Photo: Lufthansa Group Lufthansa Group increased its adjusted operating profit by 6% in the third quarter of 2026, reaching €1.4 billion, as strong travel demand and cost controls helped offset a sharp rise in fuel expenses.
The group reported record quarterly revenue of €12.2 billion, up 9% from €11.2 billion in the same period last year. The result came despite an additional €543 million in fuel costs compared with the third quarter of 2025.
Net income also increased, reaching €1.3 billion, compared with €966 million a year earlier. The adjusted operating margin, however, edged down to 11.5% from 11.9%.
"With rising revenues amid consistently high demand and strict cost discipline, we were able to more than offset the increase in fuel costs of approximately half a billion euros," said Carsten Spohr, Chairman and CEO of Deutsche Lufthansa AG.
Demand remained strong across the group's passenger businesses, particularly for premium tickets and flights to Asia and North America. At its network airlines, average yields increased 7% year-on-year.
Available seat capacity at the network airlines rose 1.6%, with additional flights concentrated mainly in South America, Africa and selected Asian routes. Yields increased 6.8%, while the load factor declined by 1.3 percentage points. Together, these developments resulted in a 5.2% increase in unit revenue.
The network airlines generated adjusted EBIT of €853 million, down €108 million from the previous year. SWISS, Austrian Airlines and Brussels Airlines all improved their third-quarter results, while Lufthansa Airlines faced higher fuel expenses and approximately €65 million in costs related to strikes during the first half of the year.
Eurowings also benefited from strong demand for European point-to-point travel. Although it reduced capacity by 3.5%, its unit revenues increased 10%, supported by demand for premium products and additional revenue from ancillary services. Its adjusted operating profit rose by €16 million to €214 million.
The group's cargo and maintenance businesses delivered particularly strong results.
Lufthansa Cargo increased its operating profit to €162 million, more than three times the €49 million recorded a year earlier. Cargo capacity grew 5%, while transported volumes increased 7%. Yields were 22% higher year-on-year, reflecting continued demand for air freight amid the Middle East crisis.
Lufthansa Technik also reported substantial growth. Revenue increased 20% to €2.3 billion, while adjusted EBIT rose 54% to €200 million.
Despite the stronger third-quarter performance, Lufthansa Group has adjusted its full-year earnings outlook. CFO Till Streichert said the company now expects adjusted EBIT of between €1.7 billion and €2 billion for 2026.
The group's expected fuel bill for the full year has risen to €9.3 billion. However, Lufthansa said it has hedged approximately 86% of its passenger airline fuel requirements for 2026 and more than 60% for 2027.
Streichert said the final result within the forecast range would depend on fuel prices, passenger demand and, in particular, Lufthansa Cargo's performance during the fourth quarter.
At the end of September, the group reported available liquidity of €11.8 billion. Net debt, including pension liabilities, stood at €7.3 billion, down from €8.3 billion at the end of 2025.