The Lufthansa Group closed the first half of the year with a net loss of 542 million euros, compared to the profit of 127 million obtained in the same period of 2025, according to the accounts submitted this Tuesday by the German airline group. The worsening of the result is mainly explained by the sharp increase in fuel costs and by the operational effect of labor strikes.
Despite the red numbers, the group's revenue increased by 7.8% in the first half, reaching 19.887 billion euros, above the 18.449 billion recorded a year earlier.
This growth was supported by the good performance of the second quarter, in which revenues reached 11.141 billion euros thanks to the strength of demand in premium classes and the rebound of the cargo division (Lufthansa Cargo).
The adjusted gross operating result (Ebitda) totaled 1.043 billion euros by June, representing a decrease of 22.4% compared to the 1.344 billion achieved in the first half of the previous year.
The semiannual accounts were strongly pressured by a fuel cost overrun of 750 million euros, associated with volatility in the Middle East, and by a direct impact of between 150 and 200 million derived from the spring strikes.
Nonetheless, the deterioration was partially moderated between April and June, a quarter in which the airline managed to maintain net profits of 123 million euros, although this figure implies a drop of 87.7% compared to the 1.000 billion recorded in the same period of 2025.
For the end of 2026, the leadership led by Carsten Spohr forecasts an adjusted net operating result (Ebit) of between 1.700 and 2.200 billion euros. The company supports these projections on a solid liquidity position of 10.700 billion euros and on the implementation of a cost containment plan.
In the markets, Lufthansa's shares reacted with sharp declines on the Frankfurt Stock Exchange following the publication of the accounts, plummeting by 12.52% in the session and settling at 8.081 euros per share, in a context of deterioration of its operating margins.