Q2 Adjusted EBIT up 27% to €871 million; Net profit more than doubles to €1 billion; Cargo and Technik divisions deliver standout results
The Lufthansa Group has reported a robust financial performance in the second quarter of 2025, increasing its Adjusted EBIT by 27% year-on-year to €871 million, while net profit more than doubled to over €1 billion. The Group has reaffirmed its full-year guidance, citing continued strong demand and operational stability despite persistent geopolitical tensions and macroeconomic uncertainties.
Group CEO Carsten Spohr noted that 2025 remains a “year of transformation” due to industry-wide challenges, including delayed aircraft deliveries, regulatory pressures, and high inflation. Nonetheless, he emphasized the Group’s operational resilience and reaffirmed its outlook: “Our ability to deliver a strong second-quarter performance underlines the strength of our multi-brand strategy and the commitment of our teams across all divisions.”
Key Financial Highlights
- Q2 Revenue: €10.3 billion (+3% YoY)
- Adjusted EBIT: €871 million (Q2 2024: €686 million)
- Net Profit: €1.01 billion (Q2 2024: €469 million)
- Adjusted Free Cashflow (H1): €1.04 billion
- Net Debt: Reduced to €5.5 billion (from €5.7 billion at end-2024)
The improved earnings were supported by a 4% increase in passenger capacity, a €91 million contribution from the Group’s investment in ITA Airways, and a twofold increase in the logistics division’s profit. A combination of lower fuel prices and favorable currency effects also positively impacted the bottom line.
Operational Performance: Passenger and Cargo Divisions
In the second quarter, Lufthansa Group airlines carried approximately 37 million passengers, up from 35.9 million a year ago. While European yields came under pressure due to increased competition, intercontinental revenues remained stable. The passenger airline division recorded €8.2 billion in revenue and an Adjusted EBIT of €690 million.
Across the first half of 2025, Group airlines flew over 61 million passengers. Lufthansa Airlines’ ongoing Turnaround program—focused on improving operational reliability and profitability—yielded notable progress, with the best punctuality rates since 2016 and a more than 25% increase in ancillary revenue.
In parallel, Lufthansa Cargo posted a standout performance, with Q2 Adjusted EBIT surging to €73 million (Q2 2024: €36 million), driven by strong Asian e-commerce demand and sea freight constraints. The division also began marketing the cargo belly capacity of ITA Airways’ South American network—a move expected to boost future route profitability.
Lufthansa Technik Delivers Record Results
Lufthansa Technik continued its upward trajectory, achieving record earnings in the first half. Revenue for Q2 rose 8% to €2 billion, and first-half Adjusted EBIT reached €310 million, reflecting heightened global demand for aircraft maintenance amid sustained air travel recovery.
Strategic Developments and ITA Airways Integration
Lufthansa’s strategic investment in ITA Airways continues to show early returns. Customer benefits have expanded, including harmonized frequent flyer perks, integrated booking options across short-, medium-, and long-haul routes, and enhanced digital services via Lufthansa’s Travel ID platform.
Outlook: Maintaining Confidence Amidst Uncertainty
Despite a volatile macroeconomic landscape, high inflation, and ongoing global uncertainties, Lufthansa Group maintains its full-year forecast. The Group expects to exceed the 2024 Adjusted EBIT of €1.6 billion, supported by approximately 4% capacity growth. Adjusted Free Cashflow is expected to remain at 2024 levels (€840 million), despite planned investments of €2.7 to €3.3 billion, largely earmarked for fleet renewal.
Notably, Lufthansa plans to add up to ten Boeing 787-9 ‘Dreamliner’ aircraft with its next-generation Allegris seating configuration by the end of 2025. By summer 2026, it expects to operate 15 Dreamliners from its Frankfurt hub.
Till Streichert, CFO of Deutsche Lufthansa AG, added, “In a persistently uncertain environment, our strong Q2 performance and progress on key transformation measures validate our strategy. We remain agile and prepared to adapt should the economic environment shift.”
Summary
The Lufthansa Group’s Q2 performance reinforces its strategic resilience and operational momentum as it navigates an evolving global aviation landscape. With gains in profitability across core and ancillary divisions, and strong cash generation, the Group is positioned to deliver on its 2025 targets while investing in long-term competitiveness and sustainability.
