Notes to the individual financial statements of Deutsche Lufthansa AG (HGB)

  • Revenue rises to EUR 15.6bn following further recovery in flight operations at Lufthansa Airlines.
  • The result from operating activities and the annual result are influenced significantly by the recognition of unrealised gains on the equity interests in Lufthansa Cargo AG and Lufthansa Technik AG.
  • Total assets climb to EUR 45.7bn.

The financial statements of Deutsche Lufthansa AG have been prepared in accordance with the German Commercial Code (HGB), the supplementary provisions of the German Stock Corporation Act (AktG) and the Articles of Association, and have been audited by EY GmbH & Co. KG Wirtschaftsprüfungsgesellschaft, Eschborn/Frankfurt am Main. They will be published in the Company Register. The financial statements are permanently available online at

In this annual report, the management report for Deutsche Lufthansa AG has been combined with the management report for the Lufthansa Group. Deutsche Lufthansa AG and its results comprise the flight operations of Lufthansa Airlines as well as the expenses incurred by the central functions for Corporate Development, Finance and Controlling, Communications, Public Affairs, Human Resources, Legal and Compliance, as well as Data Security, Safety and Procurement. The economic environment for Deutsche Lufthansa AG is essentially the same as for the Group. However, accounting disparities have resulted in a significant difference between the net result for the year of Deutsche Lufthansa AG and the net profit for the period. This is mainly due to the different treatment in accounting terms of fair value changes for retirement benefit-related plan assets and the recognition of unrealised gains in the current financial year. ↗ Macroeconomic situation, Sector developments, Course of business

Lufthansa Group Annual Report 2023