People\u2019s desire for travel was high in 2023. Demand for tickets increased again, with 123 million passengers travelling with Lufthansa Group airlines in 2023. This represented an increase of 20% in comparison to 102 million in 2022.<\/p>\n\n\n\n
The number of flights offered by Lufthansa Group airlines increased by 14% to 946,000. Through the year, the number of available seats was gradually increased. Last year, on average the airlines offered 84% of their 2019 capacity.<\/p>\n\n\n\n
A top priority of the company was to guarantee stable flight operations and improve the overall customer experience. While 98% of all flights took place as planned, necessary buffers in the system led to considerably lower productivity than the pre-crisis level of 2019, notably at the core Lufthansa brand.<\/p>\n\n\n\n As a result of high demand and increased capacity, passenger airlines experienced substantial revenue growth. In the financial year 2023, revenue increased to 28.3 billion euros.<\/p>\n\n\n\n In 2023, profits were approximately 6% higher than in 2022. This increase was mostly due to the continued strong demand in the leisure travel segment, especially in the premium class, and during the record travel in the summer season. Business travel showed a slower recovery.<\/p>\n\n\n\n Adjusted EBIT (earnings before interest and tax) greatly improved in 2023. At 2 billion euros, it was positive again. In the Group, all passenger airlines reported an operating profit for the first time. Austrian Airlines, SWISS, Eurowings and Brussels Airlines all achieved record results.<\/p>\n\n\n\n Lufthansa Technik experienced a record operating profit of \u20ac628 million in 2023. As part of its \u201cAmbition 2030\u201d growth plan, Lufthansa Technik is planning extensive investments in the growth of its core business and plans to expand its global locations and digital business models for the coming years.<\/p>\n\n\n\n The demand for air freight mostly returned to normal in 2023 after several record years. Due to recovery in passenger air traffic and the growth of cargo capacity on passenger aircraft, Lufthansa Cargo\u2019s capacity expanded by 7% over the previous year. Despite a drop from the previous year\u2019s adjusted operating profit of \u20ac1.6 billion to \u20ac219 million, the business maintained a strong operating margin of 7.4%.<\/p>\n\n\n\n In 2023, the company prioritised generating a strong cash flow to maintain long-term investment and debt reduction efforts. Operating cash flow reached \u20ac4.9 billion (a slight decrease from \u20ac5.2 billion in the previous year) as a result of favourable operating result, increased bookings and strict management of receivables and liabilities. Net capital expenditure increased by 23% year-on-year to \u20ac2.8 billion, mainly due to fleet modernisation and the purchase of new, fuel-efficient aircraft. An Adjusted Free Cashflow of \u20ac1.8 billion marks the third-highest free cashflow in Lufthansa Group\u2019s history.<\/p>\n\n\n\n Net debt significantly decreased to \u20ac5.7 billion euros, around \u20ac1 billion less than the pre-crisis level due to the positive free cashflow. A 60 basis point drop in the discount rate resulted in net pension obligations of 683 million euros to 2.7 billion euros.<\/p>\n\n\n\n As of December 31, 2023, equity increased to \u20ac9.7 billion. The strength of the Lufthansa Group\u2019s balance sheet was also recognised by global rating agencies. As the only European network Airline Group, and for the first time since the pandemic, the Lufthansa Group is again consistently rated investment grade by all four agencies in the market.<\/p>\n\n\n\n Shareholders are set to participate directly in the company\u2019s strong profits for the first time since the coronavirus pandemic. At the Annual General Meeting on May 7, 2024, the Executive Board and Supervisory Board will propose a dividend of 0.30 euros per share for the 2023 financial year. This is a dividend yield of approximately 4% on the year-end share price.<\/p>\n\n\n\n Customers of the Lufthansa Group will also gain greatly from the company\u2019s success in 2023. A record investment of \u20ac4.5 billion for new aircraft, seats, lounges, improved food experiences, and digital offerings is planned for 2024, in order to enhance customer satisfaction.<\/p>\n\n\n\n Lufthansa Group airlines are setting new standards with the new \u201cAllegris\u201d cabins at Lufthansa, and \u201cSWISS Senses\u201d at SWISS. Available for the first time in May, guests will be able to experience the new features on the Munich to Vancouver connection.<\/p>\n\n\n\n With a focus on operational stability, punctuality and customer communication, a major service offensive was launched across all passenger airlines at the beginning of 2024.<\/p>\n\n\n\n The largest fleet modernisation in the history of the Lufthansa Group is currently underway. The company will receive more than 30 new aircraft, including 20 long-haul jets. The company has never expected the delivery of so many new long-haul aircraft within one year.<\/p>\n\n\n\n The modernisation will result in the withdrawal of older sub-fleets, leading to increased customer comfort and contributing to a reduction in CO2 <\/sub>emissions.<\/p>\n\n\n\n Lufthansa Group employees can participate in the positive growth of the company. The company has increased the salaries of the professional groups at Deutsche Lufthansa by more than 10% since mid-2022. Also, half a billion euros in profit-sharing payments have been paid to Lufthansa Group employees. In addition, more than 13,000 people were employed and another 13,000 are planned for this year.<\/p>\n\n\n\n The Lufthansa Group anticipates a continued increase in demand for tickets this year to popular Mediterranean destinations as well as to and from North America. To meet this demand, the Group is expanding capacity while ensuring stable flight operations to improve punctuality. The Group expects revenue to increase in 2024, with slightly lower unit revenues and stable unit costs.<\/p>\n\n\n\n \u514d\u8cac\u4e8b\u9805\uff1a In 2023, the Lufthansa Group generated its third-best financial…<\/p>\n![\"Lufthansa](\"\/wp-content\/uploads\/2024\/04\/lufthansa-airplane-travel.gif\")
<\/figure>\n\n\n\nHigh demand led to Lufthansa growth in revenue<\/strong><\/h2>\n\n\n\n
Lufthansa Technik generated a record result<\/strong><\/h2>\n\n\n\n
![\"A](\"\/wp-content\/uploads\/2024\/04\/lufthansa-airplane.jpg\")
<\/figure>\n\n\n\nStrong adjusted free cashflow reduces Lufthansa net debt<\/strong><\/h2>\n\n\n\n
Shareholders participate in profits<\/strong><\/h2>\n\n\n\n
![\"Tails](\"\/wp-content\/uploads\/2024\/04\/lufthansa-airplanes-airport.jpg\")
<\/figure>\n\n\n\nRecord investments for customers<\/strong><\/h2>\n\n\n\n
Record aircraft deliveries<\/strong><\/h2>\n\n\n\n
Employees receive a share in company\u2019s success<\/strong><\/h2>\n\n\n\n
Outlook<\/strong><\/h2>\n\n\n\n
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