Deutsche Lufthansa AG reported on Wednesday that its total revenue in the third fiscal quarter of 2020 landed at €5.21 billion, missing estimates although landing 96% higher than in the same period the previous year. The company's operating expenses in the same period grew by 32% year-over-year to stand at €5.65 billion.

Net loss was reduced to €72 million, compared to €1.97 billion in the third quarter last year. The number of flights operated by the company lifted 75% to reach 170,554, while the number of passengers soared 126% to 19,623.

"With rising demand for business travel and a record result of Lufthansa Cargo we have mastered another milestone on our way out of the crisis: We are back to black. We confirm our leading position among the world's largest airline groups," CEO Carsten Spohr said.