The Lufthansa Group has reported increased total first half-year revenues by 5.2 percent for 2018, excluding the impact of the first-time application of the IFRS 15 accounting standard. Reported total first half-year revenues amounted to EUR 16.9 billion, broadly in line with the prior-year level.
In a statement issued by the carrier, Ulrik Svensson, Chief Financial Officer of Deutsche Lufthansa AG, said: “The prime features of Lufthansa Group’s development in the first half of 2018 were strong growth and a simultaneous improvement in our unit revenues. Achieving both simultaneously is a significant success. At our network airlines, we were able to more than offset the added burden imposed by higher fuel costs through structural cost reductions and improved results by 26%. Without the integration costs at Eurowings, which we willingly accepted to further strengthen our market position in Europe, the group’s result would have grown.”