Lufthansa once again posted disappointing performance figures during the summer period.
Troubled flagship Lufthansa has yet again posted the lowest performance among all Lufthansa Group airlines during the busiest summer quarter. As CEO Carsten Spohr stated at a press event on Monday evening, "We've witnessed an intense demand that likely would've led to highly profitable summer results for us."
However, the struggling crane line continues to trail behind its fellow group members, such as Austrian and Brussels Airlines, Swiss, and the leisure carriers Eurowings and Discover.
The company's positive overall performance, excluding Lufthansa Airline and Cityline, has been further strained, even with an increase in passenger traffic and an all-time high August load factor of 88%. The predicament of Lufthansa Airline has been exacerbated despite these developments.
Lufthansa is grappling with escalating expenses in an increasingly competitive market and has opted for cost-cutting measures, as Lufthansa AG has had to revise its profit forecast for 2024 twice.
A looming issue for the company is the delay in new aircraft deliveries from Boeing due to manufacturing issues. Instead of energy-efficient Boeing 777 or 787 models, old-fashioned long-haul jets like the Airbus A340 and Boeing 747 are being utilized, resulting in higher fuel consumption and reduced appeal for frequent flyers due to outdated cabin facilities. Business travel remains at only 70% of its 2019 volume, marking the pre-pandemic era prior to the COVID-19 onset.
Despite the overall group's strong performance in the summer quarter, Lufthansa Airline still struggled, leading to the lowest results among all Lufthansa Group airlines during that period. The company's financial situation remains challenging, as Lufthansa is set to operate older aircraft in the summer quarter due to delays in new Boeing deliveries.
