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Lufthansa's Earnings Beat Forecasts After Strong Summer -- Update

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By Mauro Orru Deutsche Lufthansa reported earnings ahead of analysts' expectations for the third quarter after what it called a record summer, and said it...

By Mauro Orru Deutsche Lufthansa reported earnings ahead of analysts' expectations for the third quarter after what it called a record summer, and said it expects demand for air travel to remain strong in the coming months, even in premium cabins.

"Even though the geopolitical situation remains challenging, our booking outlook gives us reason to be positive--not only for a very good group result this year, but also beyond," said Chief Executive Carsten Spohr. Demand for both short-haul and long-haul flights, particularly among leisure travelers, remains high. Passengers are also continuing to book seats in business class and first class, Lufthansa said.

Analysts had forecast revenue of EUR10.84 billion, profit of EUR1.04 billion and adjusted earnings of EUR1.43 billion, according to a company-provided consensus.

 

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