Record Revenue and Improved Profitability
Group revenue reached EUR 39.6 billion (+5.4% YoY). Adjusted EBIT increased by EUR 350 million to EUR 1.96 billion, delivering an adjusted EBIT margin of 4.9%.
Stronger Cash Flow, Liquidity and Leverage
Adjusted free cash flow improved to ~EUR 1.2 billion (up ~EUR 350 million YoY). Year-end liquidity was ~EUR 10.7 billion (above target corridor EUR 8–10bn). Financial net debt was EUR 6.4 billion and leverage improved to 1.8x.
Passenger Airlines Turnaround Momentum
Lufthansa Airlines adjusted EBIT improved by ~EUR 250 million in 2025; the turnaround program generated >EUR 500 million gross earnings impact in 2025 with a target of EUR 1.5 billion by end-2026 and EUR 2.5 billion by 2028.
Product Upside and Ancillaries
Ancillary revenues grew 15% in 2025. Allegris premium product is delivering ~12% higher yields (RASK uplift) versus former business class; certification and roll-out are advancing across hubs, supporting further ancillary upside.
Cargo and Logistics Outperformance
Lufthansa Cargo revenue +4% with capacity +5%; adjusted EBIT of EUR 324 million (+29% YoY). Ex-fuel unit costs fell ~6% driven by lower charter costs, IT efficiencies and better crew productivity. Recent short-term yield uplifts observed (+5% worldwide, +35% in Middle East/Asia in days following the Gulf disruption).
Lufthansa Technik Growth and Resilience
Lufthansa Technik revenue grew 12% and exceeded EUR 8 billion for the first time; third-party business +23%. Adjusted EBIT ~EUR 603 million (broadly stable) with expectations for stronger earnings in 2026 as tariff and FX headwinds normalize.
Operational Stability & Irregularity Cost Reduction
Operational improvements reduced flight irregularity costs by 43%, equivalent to EUR 362 million, contributing materially to 2025 performance and customer stability (higher on-time metrics and NPS improvements).
Early One IT Savings and Accelerated Fleet Renewal
One IT delivered >EUR 50 million of IT cost savings in its launch year with a target of ~EUR 200 million sustainable annual savings by 2030. Fleet renewal is accelerating (largest single-year order with up to 45 deliveries planned in 2026, including 27 widebodies), improving tech quota and long-term unit economics.