Lufthansa anticipates demand to remain strong in the months ahead, with capacity expected at 80 per cent of pre-Covid levels in the fourth quarter despite inflationary pressures.
According to chief executive Carsten Spohr, people will continue to splash cash on tickets after two years of not being allowed to travel due to the Covid pandemic.
“After all, the desire to travel and thus the demand for air travel continues unabated,” Spohr said today as he unveiled the third quarter results.
The chief executive’s remarks have been echoed by the likes of Ryanair’s chief Michael O’Leary, who said people will not stop flying altogether.
Lufthansa’s high premium demand from leisure travellers remained “remarkable” in the three months ended 30 September, as the load factors for business and first class were up on pre-pandemic levels.
Yields – a metric of profitability – were on average up 23 per cent compared to 2019 levels, while the overall load factor was back at pre-pandemic record levels.
The group’s revenue went up 93 per cent to €10.1bn (£8.7b) as Lufthansa’s adjusted EBIT surged to €1.1bn.
“The Lufthansa Group has economically left the pandemic behind and is looking optimistically into the future,” the chief executive added.
The carrier made the headlines last week when it raised its full-year profit forecast to more than €1bn after previously expecting it to be around €500m.