Lufthansa Group reports return to profit and doubling of revenue in 2022

Lufthansa Group reported a “financial turnaround” in 2022  with revenue doubling to almost €33bn as its cargo and maintenance operations achieved “record results”. The group recorded its highest-ever adjusted free cash flow after passenger numbers doubled to over 100 million. Adjusted earnings [EBIT] came to €1.5bn and net income was €791 million, which the group said was a “significant improvement on the previous year” when a loss of around €2bn was recorded. Passenger airline revenues increased by 148% year-on-year to €22.8bn while “strong demand and continued limited capacity” meant average yields increased significantly to 16% higher than 2019. with the