Berlin, October 18 (QNA) – German airline Lufthansa Group on Tuesday reported that its third quarter preliminary adjusted earnings before interest, taxes and depreciation (EBIT) surged to about 1.1 billion euro ($1.08 billion), compared to the previous year’s 251 million euro.
The latest quarter result included an impact from strikes of around 70 million euro.
Quarterly revenue almost doubled to 10.1 billion euro, up from 5.2 billion euro in the prior year.
Quarterly adjusted free cash flow was around 400 million euro compared to 43 million euro last year.
Lufthansa Group raised its forecast for the full year, based on the positive development in the third quarter, the strong demand for air travel in the coming months and the expectation of another record result from Lufthansa Cargo in 2022.
Looking ahead, the company now expects annual adjusted earnings before interest and taxes (EBIT) of over 1 billion euro. The company said in August it expected adjusted EBIT to be above 500 million euro for the full year of 2022.
It also expects an adjusted free cash flow of over 2 billion euro in 2022.
Lufthansa will present its final quarterly results on Oct. 27. (QNA)