Germany’s airline giant Lufthansa, has posted a net profit of 809 million euros ($814 million) in the third quarter of 2022, compared to a loss of 72 million euros in the same period a year earlier.
As the group extends a strong recovery from the COVID-19 pandemic, its third quarter revenues almost doubled year-on-year to 10.1 billion euros, compared to 5.2 billion revenue for the same period last year.
In August, Lufthansa had reported its first net profit since the pandemic.
Adjusted Earnings Before Interest and Taxes, equaled approximately 1.1 billion euros, compared to 251 million euros for July-September 2021.
Despite the positive streak, the airline says strike action by pilots and ground staff over the July-to-September period cost it around 70 million euros.
However, Lufthansa pilots agreed last month not to strike again until at least the end of June next year, after reaching a deal with bosses on higher pay.
The German government sold its remaining stake in Lufthansa last month, putting the airline back in private hands.
Lufthansa is the flag carrier of Germany. When combined with its subsidiaries, it is the second-largest airline in Europe in terms of passengers carried. The airline is one of the five founding members of Star Alliance, the world’s largest airline alliance, formed in 1997.
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