Credit: Luxair

On Tuesday 14 May 2024, Luxair announced that, despite a difficult economic environment characterised by inflation and a significant rise in interest rates, the passenger aviation sector continued its recovery in 2023.

The desire to travel, especially for leisure purposes, managed to counterbalance economic challenges, allowing Luxair to welcome even more passengers and to expand its offers, according to Luxembourg's national airline.

Amidst these challenges, in 2023, Luxair achieved a "historic milestone" by transporting over 2,5 million passengers, a 22% increase from the previous year, and surpassing pre-COVID pandemic figures.

Expanding its destination network, Luxair enhanced its route network in 2023, introducing new destinations such as Pescara, Ljubljana, Milan Linate, Praia and La Palma. These additions provided passengers with diverse travel options and unique experiences, catering to various needs, interests and preferences, Luxair noted.

Furthermore, Luxair made strides in its fleet modernisation efforts in 2023, and as a first step leased two Boeing 737-8 aircraft, whilst awaiting the arrival of its new aircraft. These aircraft improve operational efficiency, such as energy consumption and enhance the passenger experience with advanced amenities and features. Additionally, Luxair has placed in 2023 an order for four Embraer E2 as well as 8 Boeings B737 of the new generation, for which the delivery is expected from the end of 2025.

The performance of Luxair's various activities led the group to achieve its second positive consolidated operating result in consecutive years. The Luxair group noted it closed 2023 with a consolidated operational profit of €6,7 million for the 2023 financial year, against a consolidated operating profit of €1,5 million in 2022.