Lufthansa Cargo’s financial performance improved significantly in the third quarter of 2026. Operating profit was more than three times the level of the same quarter of the previous year. Adjusted EBIT was €162m versus €49m in Q3 2025, supported by continued air cargo demand and improved yields.

Sales were up 26% year-on-year at 1.04 billion euros. Yields increased 22% on the strength of positive market conditions amid the ongoing crisis in the Middle East. Adjusted EBIT margin also gained 9.6 percentage points to 15.6% from 6.0% in the prior year.

Cargo volumes grow faster than capacity

Lufthansa Cargo increased its available capacity in the quarter as available cargo ton kilometers (ACTKs) grew 5% to 4.01 billion. Much of the new capacity has been on the belly-hold operations of ITA Airways.

But the growth of traffic was faster than the expansion of capacity. Cargo volume increased by 7% and cargo ton kilometers (CTKs) rose by 11% to 2.55 billion.

This was reflected in improved aircraft utilization as the growth in transported freight was stronger. The cargo load factor was up three percentage points to 63.5% for the quarter.

Lufthansa Cargo CFO and CHRO Gregor Schleussner underlined the importance of a team that delivers results, sound decision-making, close customer relationships and coordinated teamwork.

“Strong results never come as a given. They are the result of making the right decisions, being close to our customers and of acting with decisiveness as one team. This is exactly what our colleagues have proven,” he said.

Growth strategy underpinned by investment in infrastructure and new services

In the quarter Lufthansa Cargo also continued to develop its commercial and infrastructure business beyond its financial performance.

The company has announced an agreement to acquire LUG aircargo handling GmbH to bolster its operational infrastructure and prepare for future growth. It completed the acquisition after receiving all necessary antitrust approvals. LUG aircargo handling becomes a 100% Lufthansa Cargo subsidiary.

The airline has added a new optional product to its service offerings: Emergency Add-on Service. This service is part of its modular range and gives absolute priority to critical shipments, catering to the needs of customers dealing with particularly urgent consignments.

The changes are part of a broader strategy designed to boost the company’s standing in the global air cargo industry and enhance the infrastructure and services provided to its customers.

Lufthansa Group achieves record quarterly revenue

The contribution of Lufthansa Cargo helped the wider Lufthansa Group to achieve its highest quarterly revenue in its history.

Group revenue was €12.2 billion, an increase of 9% compared to €11.2 billion in the third quarter of 2025. Adjusted EBIT increased by 6% to €1.4 billion, from €1.3 billion a year earlier.

This improvement was achieved despite an extra €543 million in fuel costs. However, the group’s adjusted EBIT margin declined to 11.5% from 11.9% in the same period last year.

Net income fared better, growing to €1.3 billion from €966 million in Q3 2025.

Lufthansa Technik also delivered a big improvement. The group's maintenance, repair and overhaul division raised revenue by 20% to €2.3 billion, and adjusted EBIT surged 54% to €200 million.

Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, said: “Q3 was a record quarter for the group.

Lufthansa Group posted the strongest revenue in its history in the last quarter. Operating profit increased by six percent compared to the previous year. “Thanks to the increase in revenues in a context of continuously strong demand and disciplined cost control, we managed to more than compensate for the increase in fuel costs of about half a billion euros,” he added.

Cargo and technical services remain central to earnings outlook

Till Streichert, Chief Financial Officer of Deutsche Lufthansa AG, also pointed to the significant contributions made by Lufthansa Cargo and Lufthansa Technik in improving the group's overall financial performance.

Against this backdrop, Lufthansa Group has refined its full-year adjusted EBIT forecast, setting the expected range between €1.7 billion and €2.0 billion.

The final outcome will depend on several factors, including fuel prices and market demand. However, Streichert specifically highlighted Lufthansa Cargo's earnings performance in the fourth quarter as an important determinant of where the group will finish within its revised guidance.

Strong first-half performance and Frankfurt hub modernisation

The third-quarter figures extend a positive trend already established during the first six months of 2026. Lufthansa Cargo reported adjusted EBIT of €199 million in the first half, an increase of 47% compared with the previous year. Revenue over the same period grew 16% to €1.92 billion.

Alongside its financial progress, the airline is investing in the modernisation of its Frankfurt hub, a central component of its long-term infrastructure strategy.

In June 2026, Lufthansa Cargo began operating ALPHA, the first phase of its approximately €600 million LCCevo development programme.

The initial project includes a fully automated high-bay warehouse measuring 42 metres in height and providing almost 3,000 pallet positions. The new facility is designed to improve cargo handling processes and strengthen the operational capabilities of the Frankfurt site.

Through the wider LCCevo programme, Lufthansa Cargo aims to transform the Lufthansa Cargo Center into Europe's most modern air cargo hub by 2030.

Lufthansa Cargo enters the final quarter of 2026 in a much stronger financial position and with an ambitious development program: higher profitability, growing freight volumes, infrastructure expansion and ongoing investment in specialized services.