Carsten Spohr, the CEO of Lufthansa, has promised German tourists several significant price hikes over the coming summer. In other words, airfare prices for Germans are on a one-way roller coaster – ie. directed only upwards, without any hope of downward decline. In an official statement, Herr Spohr announced figures for the first quarter of 2022, and also, apologizing to passengers, said that the company “does not expect an easy summer” due to a lack of staff, despite growing demand, as well as rising prices for fuel and maintenance.
“We had to raise ticket prices due to increased costs. I'm afraid we'll have to do it a few more times in the summer,” Mr. Spohr warned tourists.
The remaining figures of the report are more optimistic. So he said that the German carrier received more bookings last week than in the same period in 2019, and in general Lufthansa intends to reach 85% of 2019. The number of passengers in this quarter increased by 171% compared to the same period in 2021, from 3 million to 13 million. True, this is only 57% by 2019. Earnings before taxes, depreciation and interest (EBITDA), which stood at -1.4 billion euros in the first three months of 2021, increased by 1.1 billion euros in the same quarter this year.
Also Mr. Spohr added that the Lufthansa Group, together with low-cost carrier Eurowings, has significantly expanded its range of flights to resorts, especially for the German market, to a total of 120 destinations. “Demand is strong right now, especially for destinations in the US, South America and the Mediterranean,” said Mr. Spohr. He optimistically hopes that in the second quarter of 2022, the carrier will return approximately 75% of 2019 capacity, including 95% of its pre-crisis capacity on short haul European routes and 85% of its 2019 capacity on transatlantic flights over the summer. Unless, of course, a several-fold increase in prices does not scare away thrifty German tourists.
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