Lufthansa Cargo and Lufthansa Technik once again demonstrated their global leading performance in the first half of 2025. It is also encouraging that our investment in ITA Airways is already contributing to the Group's financial success.
We are continuing our necessary efforts to increase efficiency, productivity, and profitability, particularly in the turnaround of our core brand, in order to expand our position as the world's largest airline group outside the US."
The group's revenue rose three percent year-on-year to 10.3 billion euros in Q2 2025. The net result more than doubled from last year's figure, reaching 1.01 billion euros due mainly to extraordinary tax effects and currency fluctuations.
Passenger numbers grew slightly with more than 61 million travelers flying with Lufthansa Group airlines during the first half of 2025—a two percent rise from last year—with around 37 million passengers transported in Q2 alone. Despite increasing seat capacity by four percent, load factor remained stable at 82 percent.
Revenue per available seat kilometer (RASK) declined marginally after adjusting for currency effects because of lower average prices amid rising competition within Europe; however, intercontinental traffic revenues stayed steady even as capacity increased across markets. Unit costs excluding fuel and emissions rose by just over four percent due largely to inflationary pressures on personnel and location expenses.
The passenger airline segment saw revenue climb three percent year-on-year to reach 8.2 billion euros for Q2 while Adjusted EBIT improved from 581 million euros last year to 690 million euros this quarter.
ITA Airways integration progressed further during this period: benefits such as lounge access and priority boarding have been harmonized between ITA Airways and other Lufthansa Group carriers since July; flight bookings combining both networks' services are now possible; beginning September ITA customers can use their profiles within Lufthansa’s digital system.
Lufthansa Airlines continued implementing its Turnaround program with operational stability improving markedly—punctuality and reliability reached their highest levels since 2016—and ancillary revenues rising more than one-quarter during H1. Measures including closure of a Canadian customer service center aim at long-term efficiency gains.
Lufthansa Technik reported record results with an eight percent increase in quarterly revenue (to two billion euros) driven by strong demand for maintenance services despite higher costs from material shortages and tariffs; Adjusted EBIT hit another high at 310 million euros for H1. Meanwhile, Lufthansa Cargo doubled its operating profit compared with Q2 last year due largely to robust Asian e-commerce demand and sea freight bottlenecks; it has begun marketing ITA Airways’ South American freight capacity as part of ongoing network expansion.
Financially, operating cashflow stood at approximately 2.8 billion euros for H1 while net debt decreased slightly compared with December’s level; liquidity increased by about 100 million euros since January.
Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG said: "We continue to operate in a volatile environment with high uncertainty and high cost pressure. I am therefore pleased to be able to present another quarterly result that is significantly above the previous year and to report progress in our Turnaround program. In our assessment, opportunities and risks are balanced. We therefore continue to expect a full year 2025 result significantly above the previous year and Adjusted Free Cashflow at approximately the previous year's level. We thereby confirm our guidance. At the same time, we are closely monitoring macroeconomic developments and can respond flexibly to changes in the business environment.”
Looking ahead through https://investor-relations.lufthansagroup.com/en/financial-reports-publications/financial-reports.html , management expects operating profit (Adjusted EBIT) for all of 2025 will exceed last year's total (which was about €1.6 billion), with capacity expected up roughly four percent versus prior periods despite persistent market uncertainty driven by geopolitical events or fluctuating commodity prices.
Net investments ranging between €2.7-3.3 billion will focus primarily on renewing fleet assets—including additional Boeing Dreamliner aircraft equipped with new premium seating products planned for Frankfurt operations through summer next year—with up-to-date traffic figures available via https://investor-relations.lufthansagroup.com/en/financial-reports-publications/traffic-figures.html .
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