Lufthansa jumps back to profit as travel restrictions ease

© Reuters. FILE PHOTO: Lufthansa planes are seen parked on the tarmac of Frankfurt Airport, Germany June 25, 2020. REUTERS/Kai Pfaffenbach

BERLIN (Reuters) – Germany’s Lufthansa posted a return to operating profit in the third quarter on Wednesday for the first time since the beginning of the pandemic, boosted by the easing of COVID-19 travel restrictions and strong demand in the summer season.

The group reported adjusted earnings before interest and tax of 17 million euros ($19.69 million) in the quarter, compared to a loss of 1.262 billion euros a year ago.

Analysts in a company-provided poll had expected an adjusted EBIT loss of 33 million euros.

Third-quarter revenue almost doubled to 5.2 billion euros, compared to an average analyst forecast for 5.5 billion.

($1 = 0.8634 euros)

(This story was refiled to correct day of the week in paragraph 1)