Lufthansa Sees Significant Increase in Business Travel & Demand for Air Travel

German airline Lufthansa confirmed in a statement that business travel has increased significantly this year.

According to the Lufthansa Group, a total of €11 billion in revenue was generated from January through September 2021, TheSchengen.com reports.

Adjusted EBIT improved to €1.6 billion excluding restructuring costs of €520 million (previous year: €-4.0 billion). Including these restructuring costs, it amounted to -2.1 billion euros (previous year: 4.2 billion euros). Net income for the first three quarters of the year was -1.9 billion euros (previous year: -5.6 billion euros),” reads the statement published by Lufthansa.

Those numbers, according to the airline, were reached after travelers wanted to visit other countries as well, and the easing of travel restrictions increased demand for air travel during the summer months.

Besides, Lufthansa Group posted operating profit during the third quarter of this year for the first time since the start of the pandemic, despite “high restricted expenses affecting the outcome”.

In this regard, Lufthansa CEO, Carsten Spohr, recently confirmed that business travel is recovering faster than expected.

Authorities at Lufthansa also reported that there had been an increase in new bookings, reaching around 80 percent of the pre-pandemic level. This increase is mainly a result of the relaxation of travel restrictions, especially from the US authorities.

The latest Lufthansa Group report also confirmed that during the third quarter of this year, the capacity offered, measured in passenger-kilometres, represented 50 percent of the pre-pandemic condition, about twice the increase compared to the second quarter.

The Lufthansa Group carried a total of 19.6 million passengers during July, August and September, which is 46 percent of the pre-pandemic level in the third quarter of 2019.

Additionally, the seat load factor was up 68.8 percent, or 17.4 percentage points, compared to the second-quarter 2021 figures.

For this year, the airline expects to increase year-over-year in group revenue and cut its EBIT loss to less than half from previous year’s figures.

However, despite the recent increase last month, it was reported that strikes by the cabin crew union at Lufthansa resulted in thousands of passengers losing their flights.

Although passengers have been waiting for compensation for two years now, in accordance with EU laws on passenger rights, this process has not yet been completed.

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Source: schengenvisainfo.com

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