Deutsche Lufthansa reported an increase in third-quarter net profit, as strong demand and cost discipline outweighed higher fuel prices. The German airline said its operating profit rose to €1.1 billion in the three months ended Sept. 30, up from €943 million a year earlier. Revenue grew 16% to €9.2 billion, driven by a surge in long-haul travel and premium cabin bookings.
Lufthansa raised its full-year earnings forecast, now expecting an adjusted operating profit of €1.4 billion to €1.6 billion, up from its previous estimate of €1.2 billion. The company also said it expects fuel costs to remain elevated but manageable. Shares rose 2.3% in Frankfurt trading.
Executives credited a new cost-cutting program and improved pricing power for the strong results.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing