Lufthansa jumps back to profit as travel restrictions ease

Written by on November 3, 2021

November 3, 2021

BERLIN (Reuters) – Germany’s Lufthansa posted a return to operating profit in the third quarter on Wednesday for the first time since the beginning of the pandemic, boosted by the easing of COVID-19 travel restrictions and strong demand in the summer season.

The group reported adjusted earnings before interest and tax of 17 million euros ($19.69 million) in the quarter, compared to a loss of 1.262 billion euros a year ago.

Analysts in a company-provided poll had expected an adjusted EBIT loss of 33 million euros.

Third-quarter revenue almost doubled to 5.2 billion euros, compared to an average analyst forecast for 5.5 billion.

($1 = 0.8634 euros)

(This story was refiled to correct day of the week in paragraph 1)

(Reporting by Riham Alkousaa, editing by Emma Thomasson)

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