Daily Management Review

Lufthansa hires employees, expects profit by the end of 2022


Lufthansa released the second quarter's earnings.

Its sales, which came to €8.5 billion, more than tripled from the same time in 2021. Compared to a deficit of €756 million a year earlier, Lufthansa had a net profit of €259 million at the conclusion of the third quarter.

The airline's successful operations are a result of a rise in demand for air travel following the lifting of coronavirus restrictions in several nations.

Earnings before interest and taxes (EBIT), which represented a deficit in 2021, are likely to top €500 million in 2022, according to Lufthansa's forecast.

Similar to other airlines, Lufthansa has had staffing issues and strikes by workers calling for higher pay, which forced it to cancel 7,000 flights already during the summer vacation period.

The airline just revealed intentions to hire 10,000 new employees over the next 18 months, marking the first significant hiring since the pandemic began.

Following the reports' publication, shares of Lufthansa increased by 6.6%.

source: bloomberg.com