Lufthansa back in profit as demand grows

Lufthansa returned to operating profit in the third quarter, just.

It was the first time the German airline group has been in the black since the start of the health crisis.

Lufthansa saw earnings before interest and tax of just under $19.7 million.

Revenue almost doubled to just over $6 billion.

Those earnings flew far higher than analysts had expected - one poll had forecasted a loss of $38 million.

Lufthansa expects demand to keep rising and earnings to stay positive in the fourth quarter.

In a sign of growing demand, capacity reached 50% of pre-crisis levels in Q3.

The carrier expects that number to hit more than 70% of 2019 levels next year.

Lufthansa says business travel is rebounding.

Demand for trips to the United States has also risen as the country opens up to European travelers next week.

Lufthansa's air cargo business was also a source of growth, making a record adjusted profit over the quarter.

Demand and freight rates rose due to supply chain disruption and ocean shipping bottlenecks.

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