Lufthansa Makes Record Profit, Axes Berlin-New York Route
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
Lufthansa Group posted record profits in 2017, the behemoth German-based aviation group reported on Thursday.
The airline collective, which includes Lufthansa, Eurowings, Swiss, Brussels Airlines and Austrian Airlines, made profits totaling $2.92 billion last year, which was 33% higher than financial experts had predicted. Lufthansa Group said it also increased its customer base by 20 million passengers and grew revenue by 12%.
The jump in earnings and passengers is due in part to the bankruptcy of rival carrier Air Berlin. When Air Berlin declared bankruptcy in 2017, Lufthansa bought more than half of its operations, including 81 of its airplanes, 3,000 members of its staff and Air Berlin subsidiary regional carriers Niki and LG Walter.
Lufthansa’s record earnings report comes as the airline announces it’s cutting its Berlin (TXL) – New York (JFK) route because the carrier was unable to obtain the ideal arrival and departure times to fill the flights and make them profitable. Passengers instead will have to connect through Frankfurt if they want to fly Lufthansa between TXL and JFK.
H/T: The Local
Welcome to The Points Guy!
Earn 90,000 bonus miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new card in the first three months of card membership. Offer ends 11/10/2021.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Limited Time Offer: Earn 90,000 Bonus Miles and 10,000 Medallion® Qualification Miles (MQMs) after you spend $3,000 in purchases on your new Card in your first 3 months. Offer expires 11/10/2021.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
- Fee Credit for Global Entry or TSA Pre✓®.
- Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees