Havacılık & Uzay Carsten Spohr, CEO of Deutsche Lufthansa AG: "In the first quarter, we were able to significantly improve the financial results of the previous year, with an Adjusted EBIT increase of 110 million euros and a consolidated net income increase of 220 million euros. Group revenue rose by eight percent to 8.7 billion euros – a new record for a first quarter. We achieve what we set out to do and deliver what we promised. This is particularly true from our customers' perspective regarding our product and fleet renewal. With seven new deliveries, including five long-haul aircraft, we are fully on track in the first quarter of the year. However, the ongoing crisis in the Middle East, combined with rising fuel costs and operational restrictions, poses enormous challenges for the world, global air traffic, and our company. Nevertheless, we are resiliently positioned to cushion these impacts. This applies to our above-average hedging against fuel price fluctuations as well as our multi-hub and multi-airline strategy, which provides us with more flexibility in route planning and fleet development. Complemented by a successful Lufthansa Cargo and Lufthansa Technik, we will, as we have often done in our 100-year history, emerge from this crisis strengthened with our team of 110,000 employees."
Significantly improved results in the first quarter of 2026. The Lufthansa Group increased its revenue in the first quarter of 2026 by eight percent to 8.7 billion euros compared to the previous year (previous year: 8.1 billion euros). The company recorded an operating loss (Adjusted EBIT) of 612 million euros, a significant improvement compared to the previous year (previous year: -722 million euros). The Adjusted EBIT margin improved to -7.0 percent (previous year: -8.9 percent). The consolidated net income rose to -665 million euros (previous year: -885 million euros). The Adjusted Free Cashflow increased by 65 percent to 1.4 billion euros (previous year: 835 million euros).
Network airlines benefit from high demand and flexibility in the network. The group's network airlines kept their capacity nearly stable compared to the first quarter of the previous year. A slight growth in long-haul traffic compensated for minor capacity reductions in the short- and medium-haul segments. The load factor increased to 81.9 percent, and unit revenues rose by 3.3 percent compared to the previous year. Both metrics were primarily driven by a strong increase in demand in March due to capacity reductions at hubs in the Middle East. This also significantly compensated for the fact that some routes to destinations in the Middle East could no longer be served. The airlines of the Lufthansa Group adjusted their flight schedules due to increased demand, particularly on routes to Asia and Africa, and added additional flights. The strong demand was also reflected in higher average revenues in the premium segment. Unit costs excluding fuel and emissions expenses rose by 2.5 percent compared to the previous year. This resulted from a lower-than-planned capacity increase alongside rising costs due to higher personnel expenses and depreciation. Overall, the Adjusted EBIT of the network airlines amounted to -605 million euros, representing an improvement of 135 million euros compared to the previous year.
Point-to-point airlines shift capacity from the Gulf region to Europe. Eurowings increased its capacity by five percent compared to the first quarter of the previous year. Unit revenues rose by 6.8 percent, mainly due to strong European business in March. In light of the crisis in the Middle East, Eurowings has temporarily removed flights to the previously growing Gulf region from its schedule. Unit costs excluding fuel and emissions expenses rose by 5.1 percent, particularly due to higher maintenance costs and costs arising from weather-related flight irregularities. The share of the SunExpress joint venture was ten million euros lower than the previous year due to the difficult market situation in Turkey. Overall, the Adjusted EBIT in the point-to-point airlines segment decreased by 14 million euros to -215 million euros in the first quarter of 2026.
Lufthansa Technik and Lufthansa Cargo with strong contribution to results. The demand for maintenance, overhaul, and repair services, as well as other products from Lufthansa Technik, remains high. Revenue increased by 12 percent compared to the previous year to 2.3 billion euros (previous year: 2.0 billion euros), with revenues from external customers rising by 19 percent. Material shortages in the global market affected results, as did personnel shortages and costs for necessary qualification measures, resulting in an operating result (Adjusted EBIT) of 158 million euros, remaining at the previous year's level (previous year: 161 million euros). Lufthansa Cargo was able to clearly expand its capacity in the first quarter compared to the previous year by seven percent. This was particularly due to increased cargo space capacities, among other things through the marketing of cargo space from ITA Airways. In light of the crisis in the Middle East, the dynamics in the air freight business further increased towards the end of the quarter. Particularly in March, average revenues improved further compared to the previous year. At the same time, unit costs fell by four percent compared to the previous year, thanks to reduced maintenance expenses and consistent cost management. Overall, Lufthansa Cargo achieved a significantly improved Adjusted EBIT of 83 million euros (previous year: 62 million euros).
Increased Adjusted Free Cashflow further reduces net debt. Operating cash flow rose to around 2.1 billion euros in the first quarter (previous year: 1.8 billion euros). The change is primarily based on a strong increase in liabilities due to increased business activity. Combined with reduced net investments thanks to inflows from aircraft sales, this led to an improvement in Adjusted Free Cashflow to 1.4 billion euros (previous year: 835 million euros). The group also reported a strong balance sheet in the first quarter of 2026. Net debt
