DEUTSCHE LUFTHANSA A G /FI Business Summary

Deutsche Lufthansa AG (DLAKY) operates a multi-hub, multi-brand aviation model, generating revenue through passenger transport, global logistics, and maintenance, repair, and overhaul (MRO) services. The company’s primary business segments include Passenger Airlines—comprising premium brands Lufthansa, SWISS, Austrian Airlines, and Brussels Airlines, alongside the point-to-point carrier Eurowings—and the industrial divisions Lufthansa Cargo and Lufthansa Technik. As of early 2026, the Group has solidified its Southern European footprint through the strategic integration of ITA Airways, leveraging a 41% stake to expand long-haul connectivity to Africa and Latin America. Lufthansa competes directly with legacy peers Air France-KLM and International Airlines Group (IAG), as well as low-cost carrier Ryanair; it distinguishes itself as Europe’s second-largest airline group by seat capacity, maintaining a dominant market position through its high-margin MRO business and a premium-focused transatlantic joint venture with United Airlines and Air Canada. The leadership team is anchored by Chairman and CEO Carsten Spohr, a former commercial pilot and industrial engineer who has been with the Group since 1994 and was recently extended through 2028. The executive board includes Chief Financial Officer Till Streichert, who joined in late 2024 from Amadeus IT Group with a background at BCG and Vodafone, and Chief Technology Officer Grazia Vittadini, an aerospace engineer and former CTO of both Airbus and Rolls-Royce. Dieter Vranckx serves as Chief Commercial Officer, bringing extensive experience from his tenure as CEO of SWISS. The Supervisory Board is currently chaired by Karl-Ludwig Kley, with Johannes Teyssen designated to succeed him in May 2026. Notable strategic partners and stakeholders include the Star Alliance network and Air India, with whom the Group signed a landmark joint business agreement in February 2026 to capitalize on the India-EU Free Trade Agreement.