Annual Report 2023

Connecting people, cultures and economies in a sustainable way

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At a glance

The Lufthansa Group 2023

Lufthansa Group achieves third-best result in its history

2023 was one of the best years for the Lufthansa Group in economic terms. The recovery in demand for flights after the coronavirus pandemic continued. In the summer months, tourist travel in particular was in great demand. Accordingly, we further expanded our capacities, especially to leisure travel destinations. Overall, in the past year we once again welcomed more than 120 million passengers on board our aircraft and flew them safely to their destinations. The Lufthansa Group’s earnings improved significantly compared with a year ago. Adjusted EBIT increased to around EUR 2.7bn. This means we have achieved the third-best result in the company's history. We want to enable our shareholders to participate in this success and will table a proposal at the Annual General Meeting to pay a dividend of EUR 0.30 per share.

  • Statement by Carsten Spohr
  • 3 questions for Remco Steenbeergen
Our declared goal for 2024 is to consistently live up to our premium standards again.

Carsten Spohr Chairman of the Executive Board

We are delighted to once again enable our shareholders to participate in our success by paying a dividend.

Remco Steenbergen Member of the Executive Board, Finance

  • Bar-chart-euro


    in EUR bn

  • Bar-chart-increase

    Adjusted EBIT

    in EUR bn

  • Money-hand

    Adjusted EBIT margin

    in %

    +2.7% pts
  • Bar-chart-euro

    Adjusted ROCE

    in %

    +5.5% pts

Connecting people, cultures and economies in a sustainable way

The Lufthansa Group connects people, cultures and economies in a sustainable way. That is the Lufthansa Group’s purpose and also the title of this year’s annual report. Our airlines operate 4,000 flights every day to more than 300 destinations in around 100 countries. We connect families, friends and business partners, contribute to social interactions, prosperity and international understanding, and secure production and supply chains. Every day we bring the world a little closer together, create opportunities for dialogue and cross-border cooperation.


The Passenger Airlines segment comprises the network airlines Lufthansa Airlines, SWISS, Austrian Airlines and Brussels Airlines – which offer their customers a premium experience, with high-quality products and services – as well as Eurowings, which is positioned as a value carrier focusing exclusively on point-to-point traffic on European short- and medium-haul routes.

The Passenger Airlines performed well in financial year 2023. The recovery in demand for flights after the coronavirus pandemic continued. For the first time, all the independent airlines were profitable. SWISS, Austrian Airlines, Brussels Airlines and Eurowings reported record results.

Adjusted EBIT improved to EUR 2,033m (previous year: EUR – 300m).


In addition to Lufthansa Cargo AG, the Logistics segment includes the airfreight container management specialist Jettainer group, the time:matters Group, which specialises in particularly urgent shipments, the subsidiary Heyworld, which specialises in tailored solutions for the e-commerce sector, CB Customs Broker, the customs and customs clearance specialist, and the Lufthansa Group’s 50% stake in the cargo airline AeroLogic.

The Lufthansa Group’s cargo business declined in financial year 2023 as the entire sector returned to normal.

Adjusted EBIT decreased to EUR 219m (previous year: EUR 1,600m).


Lufthansa Technik is the world’s leading manufacturer-independent provider of maintenance, repair and overhaul services (MRO) for civilian commercial aircraft. Lufthansa Technik AG serves more than 800 customers worldwide, including OEMs, aircraft leasing companies, operators of VIP jets, governments and armed forces, as well as airlines.

The increase in the number of flights across the industry resulted in significantly higher demand for maintenance and repair services in 2023 and so enabled Lufthansa Technik to post record earnings.

Adjusted EBIT improved to EUR 628m (previous year: EUR 554m).

  • CO2-reduction

    Specific CO₂ emissions

    in g/passenger kilometre

  • People-group


  • Passenger-adult


    in millions

  • 4,3

    projectvolume help alliance

    in €m

  • Corporate responsibility is firmly established at the Company

    Corporate responsibility, which means doing business sustainably and responsibly, is an integral part of the Lufthansa Group’s corporate strategy. This is reflected in the purpose of the Lufthansa Group: “Connecting people, cultures and economies in a sustainable way”. We are convinced that we have an obligation to add value for our passengers, employees and investors, and to meet our responsibility towards the environment, people and society. So we improve our climate and environmental policies continuously, deal responsibly and fairly with our employees and are engaged as a company in many areas of society.

  • Lufthansa Group pursues ambitious environmental goals

    In terms of environmental policy, the Lufthansa Group aims to cut its net carbon emissions in half by 2030 compared with 2019 and supports the objective of making aviation carbon neutral by 2050.
    In order to achieve these objectives, the Lufthansa Group is investing continuously in fuel-efficient aircraft. This is accompanied by the airlines’ operational efficiency measures. The Lufthansa Group also works with policymakers and partners in industry, technology and research to promote the industrialisation and use of sustainable aviation fuel (SAF). In addition, intermodal traffic is being systematically further expanded in all of its home markets.
    Specific carbon emissions per passenger-kilometre were 1.8% lower in 2023 than in the previous year at 88.4 grammes (previous year: 90.0 grammes). The reduction in specific emissions in the Group fleet compared with the previous period was mainly due to an increase in the passenger load factor, changes to the route network, and the resulting increase in average flight length.

Lufthansa Group assumes that growth will continue in the 2024 financial year

The Lufthansa Group assumes that the positive course of business in 2023 will continue in 2024 and expects demand to go up year on year. In addition to the private travel segment, where demand is forecast to exceed its pre-crisis level, a contribution will come from the further recovery in demand in the business travel segment.

Flight capacity will therefore be expanded. Overall, the Lufthansa Group anticipates that available capacity for Passenger Airlines in 2024 will be around 94% of its pre-crisis level in 2019. A significant year-on-year increase in revenue is forecast for 2024. The main drivers are expected to be further capacity growth in the Passenger Airlines segment and expected growth in the Logistics and MRO segments. The Lufthansa Group expects that revenue growth will be offset by ongoing cost inflation. Overall, the Lufthansa Group therefore anticipates Adjusted EBIT at the same level as the previous year.

Dates 2024

Financial calendar

  • Release of 1st Interim Report
  • Annual General Meeting 2024 (virtual)
  • Release of 2nd Interim Report
  • Release of 3rd Interim Report

Lufthansa Group Annual Report 2023