Eurowings achieves historic profit turnaround

Eurowings achieves historic profit turnaround


The post Eurowings achieves historic profit turnaround appeared first on TD (Travel Daily Media) Brand TD.

The airline Eurowings has achieved a record result thanks to strong demand and the restructuring carried out in recent years. Overall, the point-to-point business segment of Lufthansa Group, consisting of Eurowings and the stake in SunExpress, generated a positive result of 205 million euros (Adjusted EBIT) in 2023. The business segment, which specializes in affordable flights for business and leisure travelers, thus achieved a historic profit turnaround. In the previous year, there was still a loss of 197 million euros.

Eurowings’ financial turnaround is largely due to strategic changes since the Covid crisis. The significant expansion of the tourism business helped the Cologne-based company increase its turnover by 40 percent to around EUR 2.6 billion. Eurowings benefited in particular from the lasting desire to travel after the pandemic years and a summer season with new record numbers of guests, including to Mallorca. Eurowings operates a growing base here, connecting Europe’s favorite sunny island with 26 airports in Germany, Austria, Switzerland, Sweden and the Czech Republic. This summer, Eurowings will offer more than 400 weekly connections to and from Palma for the first time – a new record. Among the more than 150 destinations in the Eurowings route network, the holiday hotspots of Greece, Italy and Spain also remain in high demand.

Kai Duve, Eurowings Chief Financial Officer (CFO): “The financial turnaround is not only a historic milestone for Eurowings, but first and foremost a strong team effort by our 5,000 employees, which deserves the highest recognition. We can see that our reorganization as a value airline for Europe is succeeding. As a result, we have developed from an airline with a strong domestic German focus into a leading European leisure airline. We will continue on this path, expand the tourism sector in a targeted manner and bring even more Eurowings to Europe in 2024.”

 

 

 

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