The Lufthansa Group made significant progress in overcoming the consequences of the corona crisis in 2021. Our Group and the whole aviation sector benefited from the successes in overcoming the pandemic. At the same time, we initiated and implemented deep changes in the Company to adjust to the structural changes in our markets. We are approaching a “new normal” with further recovery that we are expecting in 2022. We are intensively preparing for this – always with the goal of improving our competitive position and emerging stronger from this crisis. “NEW NORMAL. NEW STRENGTH.” is therefore the title of our current annual report. We want to justify this claim with the transformation of the Lufthansa Group.
In 2021, the demand for flights increased further, driven by the global progress on vaccination campaigns and relaxation of travel restrictions. This enabled us to significantly expand our capacities during the year. Many people were able to take the summer holidays they had been longing for. We benefited from this on our short-haul and medium-haul tourist routes in particular. Demand also increased for long-haul routes. Thus, after the USA opened to European travellers in November, the booking figures to North America increased sharply. There have also been significant signs of a recovery in business travel since the autumn. Overall, we welcomed 47 million passengers on board our airlines in the reporting year.
We were able to reduce operating losses by more than half as a result of the recovery. Adjusted EBIT, our leading performance indicator, came to EUR – 2,349m in the 2021 financial year, including non-recurring restructuring expenses of nearly EUR 600m. The operating result was even positive again in the third quarter – a success that was mostly thanks to our consistent cost reductions. Already today we have achieved more than three-quarters of the targeted annual savings totaling around EUR 3.5bn. By transforming our Company, we are not only reducing our costs significantly and sustainably, but also making the Lufthansa Group more efficient and setting it up for a successful future.
The Aviation Services companies make an important contribution to the ongoing development of the Lufthansa Group. They benefited from an improved financial performance in the reporting year. Lufthansa Cargo reported another record result in 2021. We assume that the boom in demand from disrupted supply chains around the world and ongoing capacity bottlenecks will continue. Lufthansa Technik and the LSG group also achieved positive operating results again, supported by the recovery in global passenger figures.
In 2021, we also strengthened the balance sheet and brought the phase of government stabilisation in Germany to an end in less than 18 months. By issuing several bonds and executing a capital increase as well as other financing measures, we have raised a total of over EUR 8bn. We were therefore able to repay the funds drawn down in Germany from the stabilisation measures of the Economic Stabilisation Fund in full and earlier than originally planned.
This has cleared the way for the Economic Stabilisation Fund to dispose of its shareholding in the Lufthansa Group. This sale has to be completed by October 2023. The liquidity available to the Lufthansa Group amounted to EUR 9.4bn at the end of the reporting year. It was therefore around twice the level at the start of the crisis.
We expect a further recovery in air traffic for the 2022 financial year. In the first quarter of the year, the spread of the Omicron variant and the resulting rise in coronavirus cases will continue to adversely affect us. However, for the rest of the year we expect a significant relaxation in the pandemic situation allowing many people to catch up on holidays and business travel. At the same time, the political and economic consequences of the Ukraine conflict could affect our business performance in ways that cannot yet be estimated. In general, we are well prepared to continue our recovery in another challenging year.
Our customers will remain the focus of our activities in 2022, now more than ever. During the pandemic, their patience and loyalty were demanded to an extraordinary degree. This is why we are now doing everything we can to once again expand our services as quickly as possible and to match them more than ever to the individual needs of our passengers. We want to use innovation and digitalisation to increase the satisfaction of our guests further and offer them the best air travel experience in Europe.
Responsibility will continue to be the foundation of all business activity in the Lufthansa Group. We are therefore continuously expanding our environmental commitment. Firstly, by accelerating the modernisation of our fleet and replacing older, inefficient aircraft types by modern, more fuel-efficient aircraft faster than planned. We are also optimising the fuel consumption of our fleets with the help of innovative technologies like the sharkskin foil that improves the aerodynamics of our aircraft. Another aspect is the joint discussions with politicians and associations on how incentives to reduce emissions can be created without exposing European airlines to a competitive disadvantage compared with airlines from outside the EU. Finally, we are intensifying our activities in the research, development and production of sustainable fuels, in order to secure key capacities. We are pooling the many initiatives and projects by our Group companies for more sustainability in aviation in the new CleanTech Hub. We aspire to set the highest standards in our industry also when it comes to sustainability.
We are pleased that you are accompanying us on our path to a new normal and a new strength. We also look forward to welcoming you on board our aircraft again.
Head of Investor Relations
Deutsche Lufthansa AG
Revenue €m
Adjusted EBIT €m
The Lufthansa Group made significant progress in overcoming the coronavirus crisis in 2021. The Group’s operating and financial performance improved significantly over the year.
Faster worldwide vaccination progress and the successive easing of travel restrictions meant that the passenger airlines in the Lufthansa Group saw a significant upturn in demand. Demand for European holiday destinations and long-haul tourist destinations with limited or no travel restrictions rose rapidly in the summer, and demand on North American routes also increased significantly in the autumn. The re-opening of the USA for European travellers played an important role. Demand for business travel also rose noticably. The rise in infections in the Group’s home markets and the emergence of the Omicron variant had a negative impact on demand towards the end of the year, however.
Available capacity in the passenger business, as measured in available seat-kilometres, was expanded continuously over the course of 2021. Capacity in the first quarter was 21% of the pre-crisis level in 2019 and increased to 29% in the second quarter, 50% in the third quarter and 60% of the pre-crisis level in the fourth quarter. Over the full reporting year, capacity was 40% of the pre-crisis level.
The Lufthansa Group’s freight business reached record heights in the reporting year, driven by further increases in demand for cargo capacities and high yields. The performance of Lufthansa Technik and LSG group also improved over the reporting year, supported by the recovery in passenger traffic. Both segments generated positive Adjusted EBIT in the reporting year.
The Lufthansa Group also made significant progress with the implementation of its restructuring programme in the reporting period. The measures that have been implemented to date account for over three quarters of the annual savings totalling EUR 3.5bn that are targeted from 2024 onwards. The restructuring expenses that are necessary for the Company to adapt to the changes in the market environment caused by the crisis came to EUR 581m in 2021 (previous year: EUR 233m).
Over the course of the year, the Lufthansa Group completed a capital increase of EUR 2.2bn and raised additional funds totalling EUR 6.1bn. This enabled the Lufthansa Group to repay the funding provided by the ESF stabilisation measures in Germany earlier than originally planned.
The expansion of flight capacities, the positive development at the Aviation Services and progress with the restructuring programme were also reflected in the earnings performance of the Lufthansa Group. Adjusted EBIT came to EUR – 1,143m in the first quarter (previous year: EUR – 1,220m) and to EUR – 952m in the second quarter (previous year: EUR – 1,679m). The Lufthansa Group reported positive earnings again with Adjusted EBIT of EUR 17m in the third quarter of 2021 (previous year: EUR – 1,262m). Adjusted EBIT came to EUR – 271m in the fourth quarter (previous year: EUR – 1,290m).
A comparison of the figures for 2021 with the corresponding prior-year figures is distorted by the fact that revenue and earnings in January and February 2020 were largely unaffected by the coronavirus crisis.
Despite this, in 2021, the available capacity at the passenger airlines was 32% above the previous year. Traffic revenue for Lufthansa Group airlines rose year-on-year by 31% to EUR 11,876m (previous year: EUR 9,078m); Group revenue of EUR 16,811m was 24% higher than in the previous year (previous year: EUR 13,589m).
Supported by strict cost management and a record profit in the cargo business, the operating loss was more than halved compared with the previous year. Adjusted EBIT in the reporting period came to EUR – 2,349m (previous year: EUR – 5,451m). This includes non-recurring expenses for restructuring of EUR 581m (previous year: EUR 233m) and non-operating extraordinary expenses for legal procedures of EUR 103m (previous year: EUR 0m). The Adjusted EBIT margin amounted to – 14.0% (previous year: – 40.1%). EBIT came to EUR – 2,316m (previous year: EUR – 7,353m).
The net result attributable to shareholders of Deutsche Lufthansa AG in the reporting period came to EUR – 2,191m (previous year: EUR – 6,725m).
Gross capital expenditure increased by 4% to EUR 1,329m (previous year: EUR 1,273m) but was still significantly lower than in the years before the crisis. Cash flow from operating activities rose year-on-year to EUR 618m due to the lower pre-tax loss (previous year: EUR – 2,328m). Adjusted free cash flow, which in addition to cash flow from investing activities also includes cash outflows for leases, came to EUR – 855m (previous year: EUR – 3,669m).
The equity ratio rose by 7.1 percentage points to 10.6% (previous year: 3.5%), partly due to the issue of new shares in the course of the capital increase. Net indebtedness of EUR 9,023m was 9% below the figure at year-end 2020 due to the equity injection, which more than offset the cash outflow from free cash flow, interest payments and pension fund allocations (31 December 2021: EUR 9,922m).
At the end of the 2021 financial year, the Group had available liquidity of EUR 9.4bn. This includes EUR 1.0bn from a state-guaranteed loan in Switzerland which had not yet been utilised and EUR 735m from available credit lines. All state funding in Germany was repaid or the agreements terminated.
Development Revenue, Adjusted EBIT €m (Jan – Dec)
Adjusted EBIT margin in % (Jan – Dec)
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Total revenue | €m | 16,811 | 13,589 | 24 |
| of whichtraffic revenue | €m | 11,876 | 9,078 | 31 |
| Operating expenses | €m | 20,773 | 20,846 | 0 |
| Adjusted EBITDA | €m | -90 | -2,890 | 97 |
| Adjusted EBIT | €m | -2,349 | -5,451 | 57 |
| EBIT | €m | -2,316 | -7,353 | 69 |
| Net profit/loss | €m | -2,191 | -6,725 | 67 |
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Total assets | €m | 42,538 | 39,484 | 8 |
| Equity ratio | % | 10.6 | 3.5 | 7.1 pts |
| Net indebtedness | €m | 9,023 | 9,922 | -9 |
| Pension provisions | €m | 6,676 | 9,531 | -30 |
| Cash flow from operating activities | €m | 618 | -2,328 | |
| Capital expenditure (gross) | €m | 1,329 | 1,273 | 4 |
| Adjusted free cash flow | €m | -855 | -3,669 | 77 |
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Adjusted EBITDA-margin | % | -0.5 | -21.3 | 20.8 pts |
| Adjusted EBIT-margin | % | -14.0 | -40.1 | 26.1 pts |
| EBIT-margin | % | -13.8 | -54.1 | 40.3 pts |
| ROCE | % | -7.4 | -22.7 | 15.3 pts |
| Adjusted ROCE | % | -7.5 | -16.7 | 9.2 pts |
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Share price at year-end 1) | € | 6.18 | 7.72 | -20 |
| Earnings per share | € | -2.99 | -12.51 | 76 |
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Employees as of 31 Dec | number | 105,290 | 110,065 | -4 |
| Average number of employees | number | 107,643 | 125,207 | -14 |
| Jan – Dec 2021 | Jan – Dec 2020 | Change in % | ||
|---|---|---|---|---|
| Flights | number | 460,029 | 390,263 | 18 |
| Passengers | tsd. | 46,949 | 36,354 | 29 |
| Available seat-kilometres | millions | 145,139 | 109,828 | 32 |
| Revenue seat-kilometres | millions | 89,397 | 69,462 | 29 |
| Passenger load factor | % | 61.6 | 63.2 | -1.6 pts |
| Available cargo tonne-kilometres | millions | 11,867 | 10,560 | 12 |
| Revenue cargo tonne-kilometres | millions | 8,477 | 7,373 | 15 |
| Cargo load factor | % | 71.4 | 69.8 | 1.6 pts |
| Specific CO2 emissions | grammes | 101.6 | 105.2 | -3 |
1) Previous year’s figures adjusted for the effects of the issue of new shares in connection with the capital increase in September 2021.
Date of publication: 03 March 2022.
The coronavirus pandemic has had a severe impact on share prices in the airline industry and therefore also on the performance of the Lufthansa share since the beginning of the crisis in early 2020.
Based on a price of EUR 7.72 at year-end – after adjusting for the effects of the issue of new shares in connection with the capital increase – the share posted a positive performance in the first quarter of the reporting year. Driven by signs of a market recovery in summer, the share price rose to EUR 9.12 by early March. The share price subsequently declined however, partly due to the higher oil price and in expectation of a capital increase which was announced in mid-September. The once again worsening pandemic and the discovery of the Omicron variant also had a negative impact from the middle of the fourth quarter. The share price fell to its annual low of EUR 5.36 on 30 November 2021. As of year-end, the Lufthansa share traded at EUR 6.18. Over the course of the financial year 2021, the share therefore fell by 20%, adjusted for the effects of the capital increase. The MDAX index rose by 14% in 2021.
Over the entire crisis period of 2020 and 2021, the Lufthansa share sustained a loss of 47%, adjusted for the effects of the capital increase. However, this means the Lufthansa share performed significantly better than those of its main competitors IAG and Air France-KLM, which lost 66% and 61% respectively since the crisis started. The MDAX index rose by 24% over the same period. Shares in European low-cost carriers also outperformed the Lufthansa share. They profited from their focus on short-haul touristic routes, for which the market recovered much faster than for long-haul routes.
The Lufthansa Group assumes it will be able to continue the recovery that began last year, througout 2022. It bases this expectation above all on the recovery of demand, which has become apparent since the beginning of the year in the form of significantly higher new bookings, and on progress with implementing the cost reduction programme across the Group.
The Lufthansa Group expects that customer demand will remain influenced by developments of the pandemic and the resulting changes in travel restrictions. The Ukraine conflict could also affect the Group’s recovery. In view of these uncertainties, the Group assumes that customers will continue to book at very short notice. The Group’s entire financial outlook is therefore subject to a high degree of forecast uncertainty.
In view of this uncertainty, the Group airlines are focusing on ensuring a high degree of operational flexibility in order to be able to adjust flight capacities to various demand scenarios, also at short notice.
Nevertheless, the Lufthansa Group assumes that demand will increase significantly over the year, so that flight capacity can be expanded accordingly over the course of 2022. The expectation is that capacity expansion will be driven largely by short-haul tourist routes in Europe. The Lufthansa Group is also expecting further recovery on long-haul routes and in the business travel segment, although at a lower level. Overall, the Lufthansa Group anticipates that available capacity for the passenger airlines in 2022 will be above 70% of its pre-crisis level, subject to the development of the Ukraine conflict.
Revenue is expected to go up year-on-year in 2022, primarily as a result of the further recovery at the passenger airlines. Revenue is not expected to reach its pre-crisis level in 2022, however.
Supported by the progress in implementing the cost-cutting programme, the Lufthansa Group expects Adjusted EBIT to improve in 2022 compared with the previous year. The Company assumes that there will be no circumstances requiring major adjustments, i.e. a divergence between Adjusted EBIT and EBIT in the 2022 financial year. The performance of Adjusted ROCE will depend above all on the extent of the improvement in Adjusted EBIT. This means that both a positive or negative Adjusted ROCE are possible.
The Lufthansa Group expects cash flow from operating activities to be higher than last year, driven by the forecast earnings improvement, strict management of receivables and liabilities, and the absence of cash outflows in connection with the payment of deferred tax liabilities in the previous year.
Gross capital expenditure of around EUR 2.5bn is expected, mostly for investment in aircraft. The investment volume will be limited by the successful renegotiation of delivery time-tables and payment schedules for aircraft, as well as the use of lease agreements.
Thus, the group predicts that Adjusted free cash flow will improve year-on-year in 2022. The extent of the improvement in Adjusted free cash flow will determine the change in net indebtedness. Both an increase and a reduction in net indebtedness compared with the previous year are possible.
The planned financing activities mainly serve to repay maturing liabilities. The aim is to ensure that liquidity of EUR 6bn to EUR 8bn is available at all times. Taking into account the liquidity available at year-end, the Lufthansa Group therefore assumes that the Company’s solvency is assured beyond the end of 2022.
In 2021, the Lufthansa Group completed successful refinancing using various capital market instruments. It benefited from its renewed good access to the capital markets following its operational recovery and successful implementation of restructuring measures.
Thus, the Lufthansa Group raised a total of EUR 4.1bn on the capital market in 2021 by issuing bonds. Additionally, the Lufthansa Group successfully completed a capital increase on 6 October 2021 which generated gross proceeds of EUR 2,162m. In the course of the capital increase with subscription rights, the Company issued 597,742,822 new registered shares at a subscription ratio of 1:1. This brings the issued capital to EUR 3,060,443,248.64. Shareholders of Deutsche Lufthansa AG were able to buy the new shares for EUR 3.58 per share.
Furthermore, the Lufthansa Group concluded financing for a total of 20 aircraft in 2021. Borrowings of EUR 1.4bn in total were secured by five Airbus A350s, three Boeing 777Fs and twelve aircraft from the A320 family. In the reporting year, the Lufthansa Group also took out two borrower’s note loans for EUR 350m and EUR 150m.
In total, the Lufthansa Group raised over EUR 8bn. With these funding raised and the improved performance, Deutsche Lufthansa AG was able to pay back stabilisation measures received from the ESF in full and ahead of schedule.
In the reporting year, the ESF reduced its stake in Deutsche Lufthansa AG to 14.09% according to its notification of voting rights on 7 October 2021. At the commencement of the stabilisation measures it held 20% of the shares. When it took part in the capital increase, the ESF committed to selling its remaining equity investment within 24 months of completion of the capital increase at the latest, meaning no later than October 2023.
The Lufthansa Group is working in a targeted manner to make aviation more climate-friendly and has committed itself to an ambitious CO2 reduction path. In the global climate ranking of the non-profit environmental organization Carbon Disclosure Project (CDP), the Lufthansa Group again and thus for the fourth year in a row received a good rating for its strategy and its implementation. On a scale from "A" (best result) to "D-," the company was rated "B." In the measurement of its own CO2 emissions (Scope 1 and 2) and those of the supply chain (Scope 3), the Lufthansa Group received the top grade of "A," as in the previous year. In the category of commitment in the value chain, the Lufthansa Group was able to improve significantly.
"Our repeated good rating in the CDP climate ranking is both a confirmation and a motivation for us. It confirms that we are on the right path with our programs for sustainable aviation and motivates us to pursue this path consistently. Even in challenging times, we are using all our expertise, our energy and our networks to make CO2 neutral flying a reality," says Christina Foerster, Chief Customer Officer of Lufthansa Group.
Lufthansa German Airlines now offers even more options for CO2-neutral flying: Since February 2022, the airline is testing a new service that allows passengers to offset the CO2 emissions of their air travel directly on board. Lufthansa German Airlines passengers can take advantage of the offer on short- and medium-haul flights with Internet connectivity to and from Munich. SWISS will also introduce the test offer on selected long-haul aircraft.
The feature is displayed to guests in the onboard entertainment system. There, they can use a slider to choose how they wish to offset the CO2 emissions of their flight: Either via Sustainable Aviation Fuel made from biogenic residues, via high-quality carbon offset projects run by the non-profit organization myclimate, or via a combination of both options. Passengers can use the service free of charge via the in-flight Internet on their mobile devices. In the new application, passengers can see directly how many passengers have already offset the CO2 emissions of their individual flight on that day and thus become part of a growing community.
CO2-neutral flying is already possible today. The Lufthansa Group is pursuing an ambitious path for more climate friendly aviation and, since spring 2021, in addition to private travelers, has also been offering companies the option of using Sustainable Aviation Fuel (SAF) for their flights. Steadily more of the Lufthansa Group's corporate customers are interested in this climate friendly form of business travel or freight transportation. After the insurance company AXA Deutschland, the logistics service providers DB Schenker and Kuehne+Nagel, Kearney has now also become the first internationally active management consultancy to invest extensively in SAF. As a result, Kearney has beenusing the Lufthansa Group's "Compensaid Corporate Program" since November 2021 to make the majority of its business flights CO2-neutral.
"As Europe's largest purchaser of Sustainable Aviation Fuel, we already enable CO2-neutral flying. Among our corporate customers, we are seeing increasing interest in using this genuine alternative to fossil aviation fuel. Every company that already invests in Sustainable Aviation Fuel spurs the market ramp-up and thus makes an important contribution on the way to CO2-neutral air transport," says Christina Foerster, Chief Customer Officer of Lufthansa Group.
In a move that is making a sustainable contribution to climate and environmental protection, Fraport and Lufthansa have teamed up to transfer recyclable PET bottles directly from the aircraft into a sustainable and closed recycling loop. Frankfurt Airport is the first airport in Europe involved with this process. PET (polyethylene terephthalate) is the name of a clear, strong, lightweight and 100% recyclable plastic. Lufthansa and Fraport, together with Hassia Mineralquellen, a company that markets some of the finest mineral waters of Germany, intensely tested a closed loop recycling project in late 2021 and upon a successful completion, immediately transferred it to regular operation in Frankfurt.
SWISS has decided to equip its entire Boeing long-haul fleet with the fuel-saving AeroSHARK surface technology. Starting in the middle of the year, a total of twelve Boeing 777-300ERs will gradually be fitted with the riblet films developed jointly by Lufthansa Technik and BASF. The significantly reduced frictional resistance resulting from this modification will make the sub-fleet more than one percent more fuel-efficient and lower in emissions.
From 2022, all Lufthansa Cargo 777 freighters will also be equipped with the new surface technology.
The demand for air travel during the Easter vacations increased significantly following the easing of travel restrictions across Europe. In mid-February, the Lufthansa Group recorded the most successful booking week in the last two years. The number of bookings was four times higher than in the same week last year.
To meet the high demand, especially of “sun seekers,” Lufthansa German Airlines is now offering at short notice or the upcoming Easter holidays more than 50 additional flights to and from Frankfurt as well as Munich.
Those who are already thinking about their next summer vacation can now book a dream vacation from over 160 destinations from Frankfurt and Munich. Whether the choice is to the Canary Islands or to exotic far off destinations, the Lufthansa German Airlines flight schedule has a lot to offer and was expanded by a portfolio of attractive new destinations as well as increased frequencies on current routes and the resumption of services. The number of intra-European connections from Frankfurt and Munich will again almost reach the 2019 level with around 5,000 weekly flights.
Lufthansa German Airlines is Germany's most popular travel and tourism brand. The airline leads the German Top 10 of YouGov's Travel & Tourism Brand & Destination Rankings 2022, which were conducted for the first time this year. Lufthansa German Airlines thus secures first place among the travel and tourism brands most popular with German consumers.
Eurowings Discover will entice passengers with many attractive short-, medium- and long-haul destinations from Frankfurt in the summer of 2022. In addition to 19 long-haul destinations, Eurowings Discover also has a varied tourist short- and medium-haul offering, including to nine Greek islands, the Canary Islands, Portugal and Turkey. As planned, the routes will be taken over by Lufthansa during the summer.
Eurowings is preparing for a summer with enormous catch-up effects. After a significant increase in tourist flight bookings, demand for business routes is also picking up. After two years of the coronavirus pandemic and months of working from home, the desire for freedom in both private and professional contexts is becoming stronger and stronger.
SWISS is to further expand its range of scheduled services next summer, and will be adding six new destinations to its European route network. From Zurich SWISS will newly serve Bologna, Nantes, Sofia, Odessa and Vilnius, while Geneva will see the addition of a new Brussels service. SWISS will offer a total of 119 destinations from Zurich and Geneva in its 2022 summer schedules. Within Europe the focus will be on leisure and visiting-friends-and-relatives destinations and the continent’s main centres, while the SWISS intercontinental network will put a particular emphasis on North American destinations. SWISS expects to restore its services to around 80 per cent of their 2019 capacities by the 2022 third-quarter period.
After the announcement of large-scale easings across Europe, bookings at Austrian Airlines are also skyrocketing. The demand for flights during the Easter holidays is particularly high, with travelers mainly drawn to warmer-water destinations such as the Maldives, Mauritius and Cancún.
With great excitement and in happy expectation of many successful competitions, around 100 athletes, coaches and support staff took off for Beijing on 31 January 2022.
Lufthansa German Airlines CEO Klaus Froese said; "It’s traditional that Team Germany flies to Olympic Games with Lufthansa. This is a very special task for us and one we always do happily and with great pride."
On over four special flights, Lufthansa German Airlines flew over 400 athletes and support teams to the Olympic Games.
Lufthansa Cargo has already flown 100 tons of sporting equipment and baggage to Beijing in the weeks prior to the Olympics. For many years, the "cargo crane" has been a reliable partner for transporting sporting equipment for Olympic teams. Something that is particularly time-critical and requires great care and experience.
On 21 February 2022, the last 128 athletes and support teams of the successful Team D (27 medals in total) arrived back in Germany. About 50 athletes with their gold, silver and bronze medals were on board this flight from Beijing among them the successful bobsleigh pilots around double Olympic champion Francesco Friedrich as well as Katharina Henning and Victoria Carl, who sensationally won silver in the women's cross-country relay and the gold medal in the relay sprint.
Due to the Corona rules, the athletes, whose competitions had already ended in the first week, each left after their competitions. Lufthansa transported a total of 403 athletes and their support teams to and from the Olympic Games.
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Analyst and Investor Communication
Information published in this Shareholder Information with regard to the future development of the Lufthansa Group and its subsidiaries consists purely of forecasts and assessments and not of definitive historical facts. Its purpose is exclusively informational and is identified by the use of such terms as ‘believe’, ‘expect’, ‘forecast’, ‘intend’, ‘project’, ‘plan’, ‘estimate’, ‘assume’ and ‘endeavour’. These forward-looking statements are based on all discernible information, facts and expectations available at the time. They can, therefore, only claim validity up to the date of their publication.
Since forward-looking statements are by their nature subject to uncertainties and imponderable risk factors – such as changes in underlying economic conditions – and rest on assumptions that may not, or divergently occur, it is possible that the Group’s actual results and development may differ materially from those implied by the forecasts. The Lufthansa Group makes a point of checking and updating the information it publishes. It cannot, however, assume any obligation to adapt forward-looking statements to accommodate events or developments that may occur at some later date. Accordingly, it neither expressly nor conclusively accepts liability, nor gives any guarantee for the actuality, accuracy or completeness of this data and information.
The Lufthansa Group is a global aviation group with a total of more than 580 subsidiaries and equity investments.
Corporate responsibility, that is to say sustainable and responsible entrepreneurial practice, is an integral part of our corporate strategy. It means that we are committed to creating added value for our customers, employees and investors and to meeting our responsibilities toward the environment and society.
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