Lufthansa Group achieves best result in its history
German airline, Lufthansa Group has recorded an unprecedented feat after the giant airline posted a total revenue amounting to EUR 35.6 billion in 2017.
The company said in a statement that the feat resulted from past efforts.
“Our endeavors of the past few years are paying off. Our modernization has a
sustainable impact. We have achieved the best result in the history of our company. 2017 was a very good year for our customers, our employees and our shareholders,” says Carsten Spohr, Chairman of the Executive Board & CEO of Deutsche Lufthansa AG.
“We are particularly pleased that we were again able to lower our passenger airlines’ unit costs excluding fuel and currency factors last year. This is in particular as passenger related costs were actually up due to higher load factors, the variable remuneration was higher in light of strong result development, and additional costs because of compensation paid for the flight cancellations at Air Berlin burdened our cost as well,” adds Ulrik Svensson, Chief Financial Officer of Deutsche Lufthansa AG.
“Excluding these one-off effects, we reduced our unit costs by 1.8 percent.”
The Lufthansa Group invested some EUR 3 billion in 2017, around a third more than in the previous year. This is partly due to investments of some EUR 900 million into aircraft from the Air Berlin flight operations. “These higher investments also reflect the increased size of our Group. But investments relative to revenue remain on one level with the world’s most successful airlines’,” comments Ulrik Svensson.