Lufthansa Group Reports Strong Q3 2026 Performance Despite Higher Fuel Costs

Lufthansa Group increases operating profit – strong demand and cost discipline more than offset higher fuel costs.

Financial Highlights
- Revenue reached €12.2 billion, marking the strongest quarterly revenue in Lufthansa Group's history and a 9% increase year-on-year.
- Adjusted EBIT rose 6% to €1.4 billion despite significantly higher fuel costs.
- Net income increased to €1.3 billion, up from €966 million in the prior-year period.
- Adjusted free cash flow remained strong at €793 million.

Managing Rising Fuel Costs
- Fuel expenses increased by €543 million compared to the previous year.
- Strong passenger demand and disciplined cost management more than offset the higher fuel bill.
- Lufthansa expects its full-year fuel costs to reach approximately €9.3 billion.

Passenger Demand Remains Robust
- Strong demand across all business segments.
- Network airlines recorded:
- 6.8% increase in yields
- Strong premium travel demand
- Higher demand on Asia and North America routes
- Eurowings benefited from strong demand for European leisure and premium travel.

Network Airlines Performance
- Capacity increased by 1.6%, mainly on long-haul routes.
- Unit revenue rose 5.2%, reflecting healthy travel demand.
- Unit costs excluding fuel and emissions increased by only 0.5%, supported by strict cost discipline and digitalization initiatives.
- Combined Adjusted EBIT for network airlines reached €853 million.

Eurowings Performance
- Adjusted EBIT increased to €214 million, up by €16 million year-on-year.
- Premium offerings and ancillary revenues contributed to stronger profitability.
- Demand remained strong across European point-to-point markets.

Lufthansa Cargo Delivers Exceptional Growth
- Operating profit more than tripled to €162 million.
- Cargo volumes increased by 7%.
- Load factor improved by 3 percentage points.
- Yields were 22% higher than the previous year.
- Demand remained strong amid ongoing supply chain and geopolitical challenges.

Lufthansa Technik Continues Strong Momentum
- Revenue increased 20% to €2.3 billion.
- Adjusted EBIT rose 54% to €200 million.
- Strong demand for maintenance, repair and overhaul services, particularly from external customers.

Financial Strength
- Available liquidity stood at €11.8 billion at the end of September 2026.
- Net debt and pension liabilities declined to €7.3 billion, compared with €8.3 billion at the end of 2025.
- The balance sheet continues to provide strong financial flexibility and resilience.

Management Commentary
- CEO Carsten Spohr said record revenues, strong demand, and strict cost discipline enabled the Group to overcome rising fuel costs and improve profitability.
- CFO Till Streichert highlighted strong contributions from Lufthansa Cargo and Lufthansa Technik and expressed confidence in achieving the Group's revised full-year earnings guidance.

Outlook
- Demand for air travel is expected to remain healthy in the fourth quarter.
- Lufthansa has refined its full-year 2026 Adjusted EBIT outlook to between €1.7 billion and €2.0 billion.
- Focus areas remain:
- Cost discipline
- Fleet modernization
- Digitalization and automation
- Accelerating the turnaround of Lufthansa Airlines
- Sustaining growth across cargo and technical services businesses.