group · DE
Lufthansa GroupGerman aviation group: Lufthansa, SWISS, Austrian, Brussels Airlines, Eurowings, ITA Airways.
3rd Interim Report 2026 · November 2026 · checked by an AI Agent
Revenue · Q1 2026
+7.6% vLY
Op. profit
−15.2% vLY
Op. margin
-7.0%+1.9pt vLY
Load factor
+3.5pt vLY
Millions of EUR, as reported · calendar-normalized quarters
Operating profit ÷ revenue, computed from reported figures
Revenue vs cost per available seat-km (EUR cents) — the gap is unit profitability
| Period | Revenue | Op. profit | Load factor | ASK | Net result | Load factor |
|---|---|---|---|---|---|---|
| Q1 2026 | ||||||
| Q4 2025 | ||||||
| Q3 2025 | ||||||
| Q2 2025 |
Group maintained its FY2026 outlook, with Adjusted EBIT still expected to be significantly above prior year.
Around 80% of 2026 kerosene needs are hedged, yet ~EUR 1.7bn of additional fuel costs are still expected for the year; Q1 price-hedging result was +EUR 126m.
February–March 2026 pilot/cabin-crew strikes plus the Middle East crisis disrupted operations; passenger-compensation and assistance payments rose 32% YoY.
| Q1 2025 |
| Q4 2024 |
| Q3 2024 |
| Q2 2024 |
Group accelerated fleet modernisation: Lufthansa CityLine's 27 aircraft permanently withdrawn on 18 Apr 2026 and six A340-600s to be removed, to cut inefficient long-haul capacity.
Adjusted free cash flow jumped 65% to EUR 1.38bn, cutting net debt to EUR 5.34bn from EUR 6.41bn at YE2025 (net debt/Adj. EBITDA 1.6x).
IFRS EBIT (-485m) included EUR 164m of book gains on disposals of non-current assets, in particular a Boeing 747-8.
FY2026 guidance: Adjusted EBIT targeted significantly above 2025's EUR 2.0bn, with Net Capex ~EUR 2.9bn and Adjusted Free Cashflow ~EUR 0.9bn.
Board to propose a dividend of EUR 0.33 per share for FY2025, up 10% year-on-year (~30% net-income payout), at the 12 May 2026 AGM.