Lufthansa raises 2022 profit outlook on strong demand for air travel

Lufthansa raised its forecast for full-year adjusted operating profit to over E1b Monday, boosted by strong demand for air travel that continued its post-COVID recovery. The company previously expected adjusted operating profit (EBIT) of more than E500m. Preliminary results for Q3 indicated that the airline almost doubled its year-on-year revenue in Q3 to E10.1b, with quarterly adjusted earnings coming in at E1.1bs. The impact from strikes brought down earnings by around E70m, according to the statement by the airline. "Based on the positive development in the third quarter, the current booking situation, which continues to reflect strong demand for air travel in the coming months ... Lufthansa Group is raising its forecast for the full year," the statement said. Final quarterly results are due on Oct. 27.<br/>