Lufthansa raises 2022 profit forecast, shares rise

(Reuters) – Lufthansa expects to achieve adjusted earnings before interest and taxes (EBIT) of around 1.5 billion euros ($1.58 billion) in 2022, the German flag carrier said in a statement on Tuesday.

Lufthansa saw strong demand for air travel and better-than-expected earnings in October and November, it added.

The group’s previous EBIT forecast was for more than one billion euros.

Lufthansa already raised its profit outlook in October, helped by strong demand for air travel that continued its post-COVID recovery.

Lufthansa’s shares were up 4.4% at 0935 GMT, among the best performers of Germany’s midcaps index. The stock is up 30% year to date.

($1 = 0.9489 euros)

(Reporting by Tristan Chabba in Gdansk; additional reporting by Linda Pasquini in Gdansk; Editing by Paul Carrel and Christoph Steitz)