According to Ritter, while North America is the biggest revenue stream for Lufthansa’s intercontinental network, the aero report added that the goal is to reduce reliance on the continent.
Lufthansa Group’s 2024 report disclosed that in 2024, out of the €27.8 billion ($30.3 billion) revenue the group’s passenger airlines earned during the year, Europe, the Americas, and Asia/Pacific were the only regions with year-on-year growth.
“The Lufthansa Group is continuing to expand its offering in Asian growth markets too,” said Ritter.
Lufthansa Group revenue by region in 2024:
- Europe: €11.7 billion ($12.7 billion) +8%
- Americas: €7.7 billion ($8.4 billion) +7%
- Asia/Pacific: €3.5 billion ($3.8 billion) +6%
- Middle East/Africa: €2.2 billion ($2.4 billion) -6%
- Not assignable: €2.5 billion ($2.7 billion) -9%
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Lufthansa Group Reports Strongest Ever Revenue & $1.7 Billion Profit In 2024
However, Lufthansa continued to struggle in 2024.
While unsurprising considering current economic and geopolitical uncertainties, this move has been in progress for some time now with Lufthansa and Lufthansa Group’s chief executives eyeing more flights to specific destinations in Asia, Africa, and South America.
In part, acquiring an initial 41% stake in ITA Airways should help expand their portfolio in these regions with ITA scheduling 46 weekly flights to points in Asia and South America starting June according to data from aviation analytics company Cirium’s Diio Mi airline planning tool.
Lufthansa Group has also previously stated that ITA Airways’ central hub at Rome Leonardo da Vinci Fiumicino Airport (FCO) was ideally positioned to diversify their network towards Africa and Latin America.
Further examples of Lufthansa’s ambitions were outlined when they introduced new Allegris first class suites on flights to Indian cities Bengaluru Kempegowda International Airport (BLR) and Mumbai Chhatrapati Shivaji Maharaj International Airport (BOM)in 2024.
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ITA Airways is planning up to six US destinations during summer season.
However,Lufthansa Group looks forward towards acquiring stakes into another airline which could expand their intercontinental network with Germany-based company eyeing investment into Air Europa known for its South American network- target previously eyed by International Airlines Group(IAG). Following European Commission(EC)'s objections IAG dropped attempt acquiring remaining shares from Globalia-parent company
Now Air Europa finds itself under scrutiny from Air France-KLM who offered €300 million($327 .4million )for51 %stake alongside proposal fromL ufthansaGroupof€ 240million($261 .9million )capital increasefor25 %Spanish carrier's shares
In February policy briefing newsletter concluded consolidation Europe must continue since continent's airlines need certain size survive international competition long term especially against competitors Middle East Asia USA
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Pointed out Condor announced several intra-European routes January17 negates claim no alternatives
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