Challenging times
Prior to 2020, Lufthansa's operating performance had been increasing considerably over the previous twelve years. However, with the onset of the COVID-19 pandemic, performance took a hit: in 2020, the number of passengers transported by the Lufthansa Group fell by 74.9 percent compared to the previous year, and in 2021, performance remained low, with only 46.9 million passengers, 68 percent less than in 2019. Additionally, in 2021, the company generated only 16.8 billion euros in revenue, down from 36.4 billion euros in 2019. Although the Lufthansa Group reported an improvement in operating profit compared to 2020, they still experienced a loss of 2.3 billion euros by the end of FY 2021.Lufthansa was among the European airlines relying on a bailout package. After prolonged talks in 2020, the German government reached an agreement to support Lufthansa with nine billion euros, saving the company from bankruptcy.
Post-pandemic recovery
The airline industry, including the Lufthansa Group, experienced a swift recovery in late 2021 and 2022 as the impacts of the pandemic were lessening. In November 2021, Lufthansa was able to announce announced that it had finished repaying the bailout ahead of schedule.However, the increase in passenger demand was met with staff shortages, which led to disruptions for travelers, especially in the summer months of 2022. The Lufthansa Group recorded more than 100 million passengers in 2022 and generated a revenue of nearly 33 million euros.
