Lufthansa Profited For The First Time In The Pandemic

Lufthansa profited for the first time in the pandemic. Germany's Lufthansa announced profit for the first time with the lifting of travel bans.

German airline Lufthansa announced a surprise profit after the resumption of flights to the USA and an increase in the number of passengers after the coronavirus (Covid-19) restrictions were lifted. The company's third quarter adjusted profit was 17 million Euros ($20 million). Analysts surveyed by Bloomberg had expected a loss of 169 million Euros. The record increase in cargo flights also played a major role in profitability. In the same period last year, the company announced a loss of 1.26 billion Euros. Lufthansa predicted that profitability will remain in the positive area in the last quarter as well, and that they will announce a loss throughout the year. The company aims to reach 70 percent of its normal capacity by 2022. Lufthansa had increased its capital of 2 billion Euros last month to pay back part of the public rescue package it received in the epidemic.