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On a preliminary basis, Lufthansa Group has achieved an Adjusted EBIT of EUR 686 million in the second quarter of 2024, down from EUR 1.1 billion in the previous year. A market-related decline in yields across all traffic regions, particularly in Asia, negatively impacted results. The unit costs of the Group’s passenger airlines remained at the previous year's level. Adjusted free cash flow for Lufthansa Group amounted to EUR 573 million.
Lufthansa Airlines reported a quarterly profit of EUR 213 million, approximately EUR 300 million lower than the previous year's figure of EUR 515 million. For the half-year period, Lufthansa Airlines recorded a loss of EUR -427 million compared to a profit of EUR 149 million last year. The airline faces challenges due to negative market trends and inefficiencies in flight operations at both Lufthansa and Cityline, compounded by delayed aircraft deliveries. Breaking even for the full year is becoming increasingly difficult for Lufthansa Airlines; thus, a comprehensive turnaround program is being launched.
For other passenger airlines as well as Lufthansa Technik and Lufthansa Cargo, earnings for the second half of the year are expected to be broadly consistent with or higher than last year's levels.
