Miles & More: Lufthansa macht aus Vielfliegermeilen eine Gewinnmaschine
Lufthansa entdeckt im Loyaltyprogramm Miles & More eine besonders profitable Einnahmequelle. Welche Schwächen das kaschiert – und wie die Zukunft aussehen könnte.
In the aviation industry, the name Gerald Schlögl is not often mentioned when discussing Lufthansa's key employees. However, Schlögl's responsibilities lie within the company's renowned Miles & More loyalty program, which is utilized by approximately 40 million people worldwide, at least once a month. Lufthansa Finance CEO Till Streichert believes that Schlögl may soon assume a more prominent role in the company.
Streichert aims to significantly expand the business surrounding the small plastic cards, with earnings expected to grow by nearly 10 percent in the coming years. "We believe there is much more potential there," said Streichert at a recent Lufthansa half-year earnings event.
The most profitable part of Lufthansa's business is its baggage handling, which urgently needs more earnings as profits continue to shrink. Schlögl's team argues that the Miles & More program generates the highest revenue per transaction of all Lufthansa subsidiaries. The program is already generating an annual revenue of around €1.4 billion and an operational profit of approximately €350 million, more than the current booming freight business.
With margins exceeding 20 percent, the loyalty program brings the company closer to the average return on investment that Streichert promised to achieve by the end of the decade.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
