Lufthansa Group traffic revenue declined 3.7 percent year
over year to €7 billion in the third quarter.
Though passenger volume increased 1.8 percent during the
quarter and traffic increased 2.1 percent, the carrier is facing "strong
competitive pressure" on its transatlantic routes, especially those to
South America. Individual bookings to Asia during the first nine months of the year
have risen year over year, but group bookings on Asian routes saw a
"substantial decline," according to Lufthansa Group. Revenue from its
European hub traffic, meanwhile, held steady.
Lufthansa Group also noted that short-term corporate
bookings were strong in September, which eased pressure on fares. Yield declined
5 percent year over year in the third quarter.
Lufthansa Group said it is slowing capacity growth, although
capacity increased 4 percent year over year during the third quarter. Its load
factor declined 1.6 percentage points to 84.4 percent.
Its
net profit for the quarter was €1.4 billion, compared with €794 million in the
third quarter of 2015.