The Lufthansa Group increased its total revenues by 12.7% to €17.0bn in the first six months of 2017 (prior-year period: €15.0bn). Traffic revenues were up by 14.2 percent to €13.3bn (prior-year period: €11.6bn). And the key earnings indicator Adjusted EBIT was roughly doubled to over €1bn (prior-year period: €529m), giving the Lufthansa Group its best-ever first half year earnings result. Net profit for the first half of 2017 amounted to €672m, a 56.6% improvement on the prior-year period (prior year: €429m). Cash flow from operating activities rose more than €1bn to €3.2bn. The increase was driven by the good result and more advance bookings for the third-quarter period. With capital expenditure basically unchanged at €1.2bn, free cash flow rose by 87.0% to €2.1bn (prior year: €1.1bn). Net financial debt was reduced by more than half – 57.8% – to €1.1bn (year-end 2016: €2.7bn). Pension obligations stood at €8.1bn as of 30 June 2017, some €200m below year-end 2016. The special contribution of €1.6bn into the new defined contribution pension scheme for the flight attendants of Lufthansa will now start in the third quarter and will continue in various installments until the end of the year.
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