Lufthansa says will meet profit target despite fuel costs

German airline Lufthansa said on Wednesday that it expected to meet its operating profit target this year despite rising fuel prices.

Lufthansa board “confirms its outlook that the group’s operating result for the full year 2008 will follow up on the previous year’s record level,” of €1.38 billion ($2.1 billion), it said ahead of a meeting with analysts and investors.

“The current environment, particularly the high kerosene prices, does however represent a considerable challenge for the airline industry,” it added in a statement.

Lufthansa estimated that fuel expenses for the full year would come to around €5.6 billion, but planned to offset that through “efficiency gains, cost savings as part of a package of measures which has already been initiated and fuel surcharges.”

“Lufthansa remains confident that the demand for mobility will continue to increase and that despite fluctuations air traffic will carry on growing,” the statement said.

The news boosted shares in Lufthansa, with early trading showing a gain of 1.18 percent to €14.62 in Frankfurt, while the Dax index of German blue-chips was up by 0.50 percent overall.


Lufthansa fires up ‘jumbo jet’ for surge in German tourists bound for Mallorca

German airline Lufthansa said Friday it was taking "extraordinary measures" to meet surging bookings for the Spanish holiday island of Mallorca, deploying a jumbo jet to ferry passengers from Frankfurt.

Lufthansa fires up 'jumbo jet' for surge in German tourists bound for Mallorca
Tourists enjoy the first days of summer on the island of Mallorca. Photo: picture alliance/dpa/AP | Francisco Ubilla

The group said it had seen a jump in reservations from German sunseekers in recent weeks, as concerns about the pandemic ease thanks to falling infection numbers and vaccination progress across Europe.

To meet demand, Lufthansa said it would swap the 215-seat Airbus A321 that usually plies the Frankfurt-Mallorca route for its Boeing 747-8 “jumbo jet”.The 747, also known as the “Queen of the Skies”, can carry 364 people and is the largest plane in Lufthansa’s fleet.

The super-large planes normally fly transatlantic routes but have been
mostly grounded since the pandemic upended air travel.

READ ALSO: ‘I really needed a break’: Pandemic-weary Germans find freedom on Mallorca

“Lufthansa is taking extraordinary measures in order to respond to a significant increase in booking demand for flights to Palma de Mallorca,” the airline said in a statement.

The jumbo jet will be used for four weekends over July and August, it added, Europe’s key summer travel season.

Mallorca is one of the most popular tourist destinations for Germans and is sometimes affectionately referred to as Germany’s “17th state”.

Before the pandemic, around five million German tourists visited the island
each year.

READ ALSO: ‘Germans are coming back’: Spaniards sceptical over return of tourists