Lufthansa stock flies high after profit return

STORY: Lufthansa shares flew up more than 6% on Friday (March 3).

That after the German airline posted what it called a ‘clear positive result’ for last year.

And it further said earnings would improve significantly this year, too.

Last year, passenger numbers doubled and net revenue almost did the same compared to 2021.

The figures were still below pre-health crisis levels, but the improved numbers led CEO Casrten Spohr to announce ‘Lufthansa is back’.

The carrier reported a full-year operating profit of $1.6 billion, up from the near $1.7 billion loss a year before.

Passenger numbers hit 72% of 2019's level.

Friday's update caught the attention of Germany’s Verdi Union.

It has recently planned strikes impacting airports and flights.

Now Verdi argues Lufthansa should negotiate a better deal with employees due to its return to profit.