Luxair group increases profit | Luxembourg word

« Despite a difficult global environment, including inflation pressure and geopolitical uncertainty, Luxair laid a solid foundation for its future, » said Luxembourg Airline on Monday when submitting the business balance for 2024.

Giovanni Giallombardo, President of the Board of Directors, emphasizes that the operational result in 2024 was « our best in the past two decades ».

While the airline business itself does not make an operation (this time it was a minus of 5.9 million euros), the overall group was able to surgically increase its profit from 6.7 million euros to EUR 10.5 million. The bottom line was that the result of the pure flight transaction of 124 million euros a year earlier fell to a profit of 51.4 million euros. The Luxair Group as a whole was able to complete the year with a profit of 153 million euros, an increase of 32 percent compared to the previous year.

« I am proud of what we have achieved together and confident that we will master the challenges ahead of us, » explains Luxair boss Gilles Feit.

Despite the ongoing macroeconomic uncertainty, the company has proven its resilience by increasing the number of passengers carried by 6.5 percent to a total of more than 2.6 million passengers compared to the previous year. Driven by the growth of the Luxair passenger numbers, the Luxair catering service delivered 3.0 million meals in 2024, which corresponds to an increase of seven percent compared to 2023.

However, the company recorded a slight decline in its total revenue of 806.2 million euros in 2023 to 801.0 million euros in 2024, which is primarily concerned with the transfer of the Luxair cargo activities Luxcargo handling in May 2024. Without the freight area, the sales of other business areas rose by more than nine percent.

Luxairtours continues growth

While the transfer and business routes remained relatively stable compared to the previous year, the airline in leisure traffic recorded a continued demand with an increase of 13 percent on these routes. Luxairtours, the airline’s tour operator, recorded an increase in passenger numbers by seven percent in 2024.

In total, the airline carried out 31,035 flights last year of a slight decline compared to 31,965 flights in 2023. « This decline is due to the use of the two leased Boeing 737-8 in 2024, » explains the airline, « operating above all longer distances and have a higher capacity. »

After buying four Embraer E195 E2 aircraft and eight Boeing 737 aircraft of the next generation (including four 737-8 and four 737-7), Luxair continued this path in 2024 with an additional order of two Boeing 737-10 aircraft and the exercise of two other Embraer E195 E2 options. These aircraft are expected to reduce fuel consumption and emissions per passenger by up to 25 percent and at the same time significantly reduce the noise pollution.