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Lufthansa reported third-quarter adjusted earnings before interest and tax (EBIT) of 1.47 billion euros ($1.56 billion), up 31% year-on-year and slightly above average expectations for 1.43 billion in an analyst consensus published on the company's website. Lufthansa said bookings for the fourth quarter were up by double-digit percentages year-on-year. Costs were 0.9% lower than the same quarter last year despite rising inflation, while net profits were at 1.2 billion euros. Next year, Lufthansa expects the amount of seating capacity available to fliers to increase further to around 95% of pre-pandemic levels. Capacity will increase to 91% of pre-pandemic levels in the fourth quarter, they said.

Persons: Carsten Spohr, Bernstein, Alex Irving, Maria Sheahan, Joanna Plucinska, Kirsti Knolle Organizations: Lufthansa, Thomson Locations: BERLIN

☆ UK's easyJet agrees deal with Airbus to expand fleet beyond 2028
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

An easyJet Airbus A320neo aircraft is parked on the tarmac of Adolfo Suarez Madrid-Barajas Airport, in Madrid, Spain, June 22 2022. REUTERS/Isabel Infantes/File photo Acquire Licensing RightsLONDON, Oct 12 (Reuters) - British airline easyJet (EZJ.L) said on Thursday it had reached a proposed deal with Airbus to expand its fleet by up to 257 additional aircraft, plotting its growth beyond 2028, with bigger and more fuel efficient planes. EasyJet announced the order after forecasting annual profit of 440 million to 460 million pounds ($542-$567 million), and said it would restart its dividend, signalling that its recovery from the pandemic was now in full flow. The airline said the terms of the deal with Airbus were attractive and it gave the airline certainty of aircraft supply. EasyJet, which only flies Airbus planes, said it considered Boeing as part of a competitive process.

Persons: Adolfo Suarez, Isabel Infantes, EasyJet, Johan Lundgren, Bernstein, Alex Irving, Irving, Stelios Haji, Ioannou, Sarah Young, Paul Sandle Organizations: Airbus, Adolfo Suarez Madrid, Barajas Airport, REUTERS, Europe's, Ryanair, British Airways, Boeing, Thomson Locations: Madrid, Spain

☆ Strong bookings put EasyJet on path to full-year profit
▼ + stars: | 2023-01-25 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

LONDON, Jan 25 (Reuters) - EasyJet (EZJ.L) on Wednesday said it expected to beat current market expectations for 2023 based on the strength of bookings into summer and was set to deliver a full-year profit, fueling cautious optimism for an aviation sector set on recovery. EasyJet Holidays also upgraded expectations from 30% customer growth to around 50% year-on-year and said the airline had almost 50% more customers than last year. Ryanair (RYA.I), Europe's biggest airline and a low-cost competitor for easyJet, said earlier this month it was expecting a very strong summer season with a reasonable prospect of average European short-haul air fares rising by a high single digit percentage. "Airline reporting season starts optimistically, and we expect easyJet to be the first of several strong prints. Earlier guidance looks overly cautious and numbers will need to come up," Bernstein analyst Alex Irving said in a research note.

☆ Strong bookings put easyJet on path to full-year profit
▼ + stars: | 2023-01-25 | by ( Joanna Plucinska | ) www.reuters.com time to read: +2 min

Lufthansa has offered to buy an initial minority stake in ITA, Italy's state-owned successor to Alitalia, it said on Wednesday. "This may be the next step in European airline consolidation," said Bernstein analyst Alex Irving, citing Portugal's national airline, TAP, as a prime target. Lufthansa, Air-France KLM (AIRF.PA) and British Airways owner IAG (ICAG.L) are potential buyers, analysts said. "At the same time, however, we closely monitor consolidation in the European airline market." Michael O'Leary, the outspoken CEO of fellow low-cost airline Ryanair (RYA.I), also weighed in with his predictions this week.

[1/2] FILE PHOTO-Planes of German air carrier Lufthansa are parked as Lufthansa pilots start a strike over a wage dispute, at the airport in Frankfurt, Germany, September 2, 2022. REUTERS/Kai PfaffenbachROME/FRANKFURT, Jan 18 (Reuters) - German carrier Lufthansa (LHAG.DE) said on Wednesday it had offered to buy an minority stake in ITA Airways, betting on reviving the loss-making successor to Italy's Alitalia and expanding its footprint in Europe. One of the sources said it was valued at 200-300 million euros ($540 million). The new right-wing administration in Rome passed a decree in December to initially sell a minority stake through capital increases, in order to speed up a full divestment in ITA. "Acquiring ITA is one of the most challenging propositions in European aviation: the airline has been persistently loss-making," said Bernstein analyst Alex Irving.

Airfares from China are now 160% higher than before the pandemic, data from travel firm ForwardKeys shows, due to limited supply. Since Jan. 4, Air China (601111.SS), Hainan Airlines (600221.SS) and China Southern Airlines (600029.SS) have filed schedules with the U.S. Department of Transportation proposing to increase flights to as much as daily on some routes. Foreign carriers seeking to add flights to China require approvals from the Civil Aviation Administration of China, which did not respond to a request for comment. However, other flights were paused as it assessed market demand and government regulations. Many Western airlines parked large planes when international traffic plunged and production of new twin-aisle jets has been limited.

Lufthansa declined to comment on Rome's decision to offer an initial minority stake. Some of Italy's politicians consider ITA as the heir to cultural icon Alitalia, which they want to preserve. Some also say that ITA does not have to worry so much about losing its national identity should Lufthansa take over. The Certares-led alliance was willing to pay 350 million euros for a 50% stake plus one share of the state-controlled airline, sources had said. ($1 = 0.9412 euros)Reporting by Angelo Amante in Rome and Joanna Plucinska in London; additional reporting by Giuseppe Fonte in Rome.

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