Lufthansa Cargo expands logistics capacity via LUG aircargo acquisition

Lufthansa Cargo has signed an agreement to acquire 100% of LUG aircargo handling GmbH from the Dettmer Group, pending antitrust approval. This acquisition will add approximately 50,000 square meters of warehouse space in Germany, supporting the group's long-term growth strategy in the logistics sector.

Despite revenue growth of 7.9% to approximately 11.14 billion euros in the second quarter, the Lufthansa Group's profitability has been pressured. Adjusted EBIT fell significantly from 870 million to 383 million euros due to rising kerosene costs and previous labor strikes, which cost the company roughly 200 million euros. Consequently, the full-year profit forecast has been lowered to a range of 1.7 to 2.2 billion euros.

To prevent further operational disruptions, the company has entered arbitration proceedings with the pilot union Vereinigung Cockpit. The arbitration process involves Bodo Ramelow and Roland Koch acting as mediators for the respective parties.