Overall statement by the Executive Board on the economic position

Financial year 2024 was defined by a further recovery in demand for passenger flights on the one hand, and posed enormous challenges for the Lufthansa Group on the other. Ongoing strong demand had a positive impact on capacity expansion and traffic at the Passenger Airlines and the Logistics segment. However, the financial result was impacted by delays to the delivery of aircraft, strikes, inefficiencies at Lufthansa Airlines, decreasing yields and irregularities in flight operations.

Revenue at the Lufthansa Group increased by 6% year-on-year to EUR 37,581m in the reporting year (previous year: EUR 35,442m), due primarily to the further expansion of the flight programme at Passenger Airlines and strong growth in the Logistics and MRO business segments. Adjusted EBIT declined by 39% to EUR 1,645m (previous year: EUR 2,682m).

In the reporting year, all the Lufthansa Group’s business segments reported positive earnings. At Passenger Airlines the result was significantly lower than the previous year, however. The Logistics segment improved its earnings significantly year on year. And the MRO business segment reported another record result in the 2024 financial year.

Despite the fall in earnings, shareholders should participate in the Lufthansa Group’s positive result. The Executive Board and Supervisory Board will therefore table a proposal at the Annual General Meeting to distribute a dividend of EUR 0.30 per share for financial year 2024.

The Lufthansa Group also further strengthened its balance sheet in the reporting year. Liquidity was higher than the previous year and thus still significantly up on its pre-crisis level. The Company has therefore built itself back stronger and has an even more stable base to cope with future crises.

The Executive Board is confident that the Lufthansa Group will improve its earnings again, despite the existing challenges, and continue to build on its position as Europe’s leading airline group.