Luxair Annual Report 2025

Getting ready for tomorrow

Chapter 2: Building momentum for the journey ahead

Table of contents

• Letter from Giovanni Giallombardo Chairman of the Board of Directors

• Board of Directors

• Shareholders & participations

• Letter from Gilles Feith Chief Executive Officer

• Executive committee

• Luxair at a glance

• The people who drive Luxair

• Destinations 2025

• Preparing Luxair’s strongest network yet

• Luxair's fleet 2025

• Fleet renewal project

• Taking flight with the E195-E2

Boarding gate to the future: where the journey begins Preparing for take-off: skills, strategy and teamwork

• A collective effort across the company

• From training to take-off

The cabin: delivering the Luxair experience

• A taste of

• Enhancing identity

• A smooth and reliable travel experience

• Defending regional aviation and its role in Europe

• Caring for our people

• Rooted in community, built on trust

In the cockpit: operating with responsibility Ready for departure: the figures behind the journey

• Consolidated assets & liabilities

• Consolidated income statement

• Financial performance at a glance

• Acknowledgment

➀ Boarding gate to the future: where the journey begins

©Steve Rayyan Mack

"With strong foundations, dedicated people and a clear strategic direction, Luxair is well positioned to continue creating long-term value for the country and the communities it serves."

— Giovanni Giallombardo

Letter from Giovanni Giallombardo

Chairman of the Board of Directors

2025 was an important year for Luxair and for the long-term development of our company. It marked a major step in our fleet renewal programme with the arrival of our first Embraer E195-E2, reflecting our commitment to reliability, quality and the future of air connectivity in Luxembourg.

We had the pleasure of welcoming this new aircraft in the presence of Mrs Yuriko Backes, Minister of Mobility and Public Works, together with distinguished representatives from Luxembourg’s institutions and aviation and airport community. Their presence underlined the importance of this moment not only for Luxair, but also for the country we serve and for Luxembourg’s future mobility needs.

The arrival of the E195-E2 is a key moment for Luxair. More efficient and more sustainable, it supports our ambition to keep improving the passenger experience while strengthening the airline for the future. It also proudly carries our renewed identity in the colours of Luxembourg, reflecting the close bond between Luxair and the country it has served for generations.

Luxair remains deeply rooted in Luxembourg and the Greater Region. By connecting our passengers to an extensive network of destinations across Europe and beyond, we fulfil an essential role for the country, its people and its economy. In a fast-changing and increasingly demanding environment, this mission remains at the heart of our commitment.

Looking ahead also means recognising what makes Luxair strong every day: our people and the trust placed in us by our clients and passengers. The commitment, professionalism and expertise of our employees are the foundation of our company’s success, and the confidence our clients and passengers place in Luxair is equally important to our development. On behalf of the Management and the Board of Directors, I would like to express my sincere gratitude to all Luxair employees for their dedication, energy and loyalty throughout this important year, and to our clients and passengers for their continued trust and loyalty.

The Board of Directors remains fully committed to supporting Luxair in fulfilling its role for Luxembourg and the Greater Region. With strong foundations, dedicated people and a clear strategic direction, Luxair is well positioned to continue creating long-term value for the country and the communities it serves.

Board of Directors*

Mr. Giovanni GIALLOMBARDO

Mrs. Françoise THOMA

Mr Romolo BARDIN

Mrs Angèle DA CRUZ

Chairman of the Board of Directors

Vice-Chairman

Member

Member

Mrs Vénéré DOS REIS

Mrs Doris ENGEL

Mr Marcel LEYERS

Mrs Félicie WEYCKER

Government Commissioner for Luxair

Member

Member

Member

Mr Laurent BAUMGARTEN

Mr Jean-Claude JUNGEN

Mr Alberto PINTO DA SILVA

Member

Member

Member

Chief Executive Officer

Banque et Caisse d’Epargne de l’Etat

Member of the Board of Directors & Chief Executive Officer

Delfin

Director of European Affairs and International Economic Relations, Ambassador

Ministry of Foreign and European Affairs, Defence, Development Cooperation and Foreign Trade

Legal Counsel, Advisor

Ministry of Mobility and Public Works

Director

Banque et Caisse d'Epargne de l'Etat

President of the Board of Directors

Banque Internationale à Luxembourg

Director; European and Legal Affairs

Public Procurement and Logistics

First Government Advisor

Ministry of Mobility and Public Works

staff representative

staff representative

staff representative

*Grouped in alphabetical order.

State of the Grand Duchy of Luxembourg

Banque et Caisse d’Epargne de l’Etat

Banque Internationale à Luxembourg

Others

“As Luxembourg’s national airline, we are committed to serving the country and the Greater Region with quality, reliability and care. Luxair has strong foundations, a clear direction and, above all, dedicated people who make this company what it is.”

— Gilles Feith

Letter from Gilles Feith

Chief Executive Officer

Looking back at 2025, I would describe it as the beginning of a new chapter for Luxair. The arrival of LX-LEA, our first E195-E2, marked the kick-off of our ambitious fleet renewal programme and is the result of more than two years of intense preparation across the company.

This achievement was only possible thanks to the contribution of many teams and functions. Preparing the entry into service of a new aircraft type required commitment, expertise and close coordination across every part of the airline. I would like to express my sincere thanks to all those involved for the professionalism and dedication they showed throughout this process.

2025 was a demanding year for Luxair. Getting ready for the E195-E2 required extensive training and, as a consequence, a reduced flight schedule during part of the year. Even so, Luxair maintained its operational focus and achieved the same passenger volume as in the previous year. This is a remarkable result and a clear reflection of the resilience and commitment of our people.

LX-LEA is the first of six Embraer E195-E2 aircraft that were firmly ordered by Luxair since September 2023, with purchase rights for three more. Together with the forthcoming Boeing 737 aircraft, it forms a key pillar of our fleet modernisation strategy. The E195-E2 combines greater efficiency, lower noise and fuel consumption, and enhanced passenger comfort. With its modern cabin, comfortable 2–2 seating configuration, larger overhead bins and USB-C power outlets at every seat, it will further improve the travel experience for our passengers while giving Luxair greater operational flexibility across our network.

2025 was also a year of preparing the next stage of our commercial development. The announcement of nine additional destinations for the new year reinforces our clear commitment for further network growth and for an even broader travel offer, bringing Luxair’s network to 101 destinations in 2026.

The year also reminded us of the challenges facing the aviation sector. Regional airlines such as Luxair operate in an increasingly demanding environment shaped by volatile fuel prices, rising regulatory requirements and broader economic uncertainty. Even in this context, Luxair continued to move forward, investing in its future while maintaining its role as a reliable connector for Luxembourg and the Greater Region.

As Luxembourg’s national airline, we are committed to serving the country and the Greater Region with quality, reliability and care. I look to the future with confidence. Luxair has strong foundations, a clear direction and, above all, dedicated people who make this company what it is. My sincere thanks go to all Luxair employees for their commitment and professionalism, and to our passengers and clients for their continued trust. Their support is essential as we embrace this new chapter in Luxair’s development.

Executive committee

Daniel Colling Accountable Manager

Sara Macedo Chief Financial Officer

Gilles Feith

Chief Executive Officer

Thomas Fischer

Chief Commercial Officer

Emmanuelle Bourdeau

Vice President Legal & General Secretary

➀

Luxair at a glance

Passengers transported

+ 2,600,000 including Luxair and Luxairtours passengers

20,678 number of flights including charter flights

Luxair at a glance

Aircraft turnarounds Meals served CO2 emissions

323K tons

9,158 number of flights

26,389 Assisted at Luxembourg airport including all Luxair and Luxairtours flights, other airlines and charter flights. + 3,000,000 catering meals served

Top 5 destinations

The people who drive Luxair

The people who drive Luxair

➀ Boarding gate to the future: where the journey begins

Preparing Luxair’s strongest network yet

In 2025, Luxair further strengthened its role as Luxembourg’s gateway to Europe and beyond by expanding its network and preparing the next stage of its development, with the ambition to offer its strongest network ever in 2026.

New destinations 2026

Porto Santo, Portugal

This new route complements Luxair’s Madeira service and offers travellers access to a tranquil Atlantic Island renowned for its long golden beaches and unspoiled landscapes.

Driven by sustained demand for leisure travel, cultural getaways and more distinctive experiences, the airline launched sales for its largest summer programme to date and announced the addition of nine new routes for the summer 2026 season:

Alicante, Spain

Direct flights to Alicante were relaunched, strengthening Luxair’s presence in Spain and providing convenient access to the Costa Blanca’s renowned beaches, culture, and vibrant coastal resorts all year long.

Porto Santo, Alicante, Zakynthos, Araxos, Girona, Helsinki, Edinburgh, Tunis and Bilbao, bringing its network to 101 destinations and further enhancing customer choice.

➂ Zakynthos, Greece

Zakynthos, one of the Ionian Sea’s most picturesque islands, famous for its turquoise waters and dramatic coastline, will be just a short flight away from Luxembourg.

Araxos, Greece

Serving Araxos provides a gateway to the western Peloponnese, with access to historic sites such as Ancient Olympia and authentic Greek coastal destinations.

➆ Edinburgh, Scotland

With the introduction of Edinburgh, Luxembourg is now connected to one of Europe’s most iconic cultural capitals, celebrated for its rich heritage and vibrant festival scene throughout the year.

➄ Girona, Spain

The new service to Girona opens an additional gateway to Catalonia’s historic cities and the scenic Costa Brava, complementing Luxair’s existing Barcelona route.

➇ Tunis, Tunisia

Tunis reconnects Luxembourg with the Tunisian capital, blending Mediterranean and North African heritage while strengthening ties with a historically important market, on a year-round basis.

Helsinki expands Luxair’s footprint in Northern Europe, providing both leisure and business travellers with a year-round direct connection to Finland’s dynamic capital.

➅ Helsinki, Finland ➈ Bilbao, Spain

The return of Bilbao restores a direct connection to the Basque Country, a region internationally recognised for its distinctive culture and gastronomy.

Luxair's fleet 2025

Boeing 737-8

Seats: 186

Speed: 853 km/h

Range: 5,740 km

Boeing 737-800

Seats: 186

Speed: 853 km/h

Range: 4,050 km

Boeing 737-700

Seats: 141

Speed: 853 km/h

Range: 4,600 km

De Havilland Q400

Seats: 76

Speed: 667 km/h

Range: 1,500 km

Embraer E195-E2*

Seats: 136

Speed: 876 km/h

Range: 5,556 km

*integrated into the fleet on 29 November 2025

➀

Fleet renewal project

In 2025, Luxair took an important step in the roll out of its ambitious fleet renewal programme, designed to modernise operations, strengthen its service offering and prepare the airline for the future. The arrival of the first Embraer E195-E2 in November 2025 marked the operational start of this long-term investment, which also includes new Boeing 737 aircraft that will join the fleet in the coming years.

Together, the Embraer E195-E2 and Boeing 737 aircraft will play a key role in Luxair’s future development. They are expected to bring greater operational efficiency, lower fuel consumption and reduce noise emissions. At the same time, this new generation of aircraft will enhance the travel experience for passengers with modern cabin features and enhanced onboard comfort.

More than a fleet replacement, this programme is an investment in the airline’s future. It requires extensive preparation across the company and will help ensure that Luxair remains well positioned to continue serving the connectivity needs of Luxembourg and the Greater Region in the years to come.

Taking flight with the E195-E2

The modernisation of Luxair’s fleet began with the arrival of its first Embraer E195-E2 on 29 November 2025. This marked the beginning of a new chapter for the airline and the start of a long-term investment in this new aircraft type, with six E195-E2 aircraft firmly ordered and three additional purchase rights set to support Luxair’s development in the years ahead.

The aircraft was officially welcomed during a special ceremony held at the Luxair Maintenance Hangar, in the presence of Mrs Yuriko Backes, Minister of Mobility and Public Works, alongside representatives from Luxembourg’s institutions and

aviation and airport community. Upon arrival, it was greeted with a traditional water salute, jointly organised by lux-Airport and CGDIS, highlighting the importance of this moment for Luxair and for Luxembourg’s aviation sector.

Recognised as one of the most advanced aircraft in its class, the E195-E2 combines efficiency, lower noise and enhanced passenger comfort. With up to 29 % less fuel burn than previous-generation aircraft and up to 35 % lower noise levels, it helps Luxair reduce its environmental footprint while improving operational performance. Its comfortable 2–2 seating

configuration without middle seats and 60W USB-C power outlets at every seat are designed to further enhance the travel experience for Luxair’s passengers.

Beyond its performance, the E195-E2 also introduces Luxair’s refreshed livery into regular operations. With a modern interpretation of Luxembourg’s national colours and a bolder Luxair logo, it reflects the airline’s identity and its close ties to the country it serves.

“The arrival of this first Embraer E195-E2 is a major step into Luxair’s future. It marks the beginning of our ambitious fleet renewal programme which will strengthen our competitiveness, reduce our environmental impact, and enhance the travel experience for our passengers. Adding the Embraer E195-E2 to our fleet will help ensure that Luxair remains a

reliable

connector for Luxembourg and the Greater Region for many years to come.”

— Gilles Feith

Embraer E195-E2 key facts

Lower emissions

Up to 29 % less fuel burn compared with previous-generation aircraft, directly reducing CO₂ output and supporting Luxair’s commitment to more sustainable aviation.

Reduced noise footprint

Up to 35 % quieter than the aircraft it replaces. Ranking amongst the quietest single-aisle jets on the market, benefiting both passengers and airport communities.

Refreshed livery

A redesigned tail featuring Luxembourg’s colours in a modern, flag-inspired design, paired with a bolder Luxair logo for stronger visibility, a proud expression of Luxair’s national identity.

Operational performance

Advanced aerodynamics and latest-generation engines providing greater range, improved efficiency, and increased operational flexibility across Luxair’s network.

Enhanced passenger experience

A bright and modern cabin with a 2-2 seating layout and no middle seat, offering more space and comfort. Generous seat pitch, larger windows and overhead bins, 60W USB-C power outlets at every seat, as well as an advanced in-flight entertainment system.

➁ Preparing for take-off: skills, strategy and teamwork

A collective effort across the company

The introduction of the Embraer E195-E2 into Luxair’s fleet was the result of a true company-wide effort. From procurement through manufacturing, delivery and entry into service, teams across the company worked together to get the aircraft ready and into operation.

Throughout the process, teams worked closely with external partners to track progress, anticipate challenges and stay aligned on technical and operational topics. At the same time, safety and reliability remained a clear priority. Processes and documentation were reviewed and adapted accordingly.

Across the company, teams prepared every aspect of the aircraft’s introduction. Engineers and technical experts worked on the aircraft and its onboard systems, including cabin equipment, avionics and inflight entertainment. Operations and catering teams reviewed procedures, developed new service concepts and adjusted onboard logistics. Cabin crew also played an important role, sharing practical insights to help shape the onboard experience from the start.

Support teams were just as involved. Finance teams built the business case and assessed how the aircraft would perform across the network. Legal supported contract negotiations and provided guidance along the way. The Airline Quality & Compliance team worked with aviation authorities to make sure all requirements were met before the aircraft entered service. At the same time, Marketing helped roll out Luxair’s renewed brand, both inside and outside the cabin.

From financial planning and regulatory compliance to brand identity and passenger experience, every detail was carefully considered. Together, these efforts show how teamwork across the organisation made the successful introduction of the E195-E2 possible.

From training to take-off

The introduction of the Embraer E195-E2 was also supported by a strong pilot training and recruitment effort.

In early 2025, four Luxair instructor pilots were sent to Helvetic Airways to obtain their type rating on this new aircraft. After completing training, including ground school, simulator sessions and line operations, they returned to Luxair to train colleagues and help bring the aircraft into service.

The first E2 captains, experienced Luxair pilots formerly flying the De Havilland Q400 pilots, were joined by newly recruited co-pilots, many of whom came directly from Luxair’s Pilot Cadet Programme.

This programme, which continued in 2025, remains a key part of Luxair’s long-term recruitment strategy. Over 18 months, it combines classroom learning, simulator training and hands-on flying experience to prepare the next generation of pilots.

In 2025, open days and roadshows across Europe also supported Luxair’s pilot recruitment efforts, helping attract both aspiring and experienced candidates.

Alongside pilot training, cabin crew also underwent dedicated preparation for the arrival of the new aircraft type. This covered both operational procedures and the specific features of the E195-E2 cabin, helping ensure the same standards of safety, comfort and consistency from entry into service.

➂ The cabin: delivering the Luxair experience

Welcome on board

At Luxair, the passenger experience is shaped at every stage of the journey. From onboard service to customer touchpoints and the overall travel offer, each element reflects the airline’s focus on quality and care.

A taste of excellence at 30,000 feet

In 2025, Luxair introduced a new range of refined menus, offering both Business and Economy passengers a more enhanced onboard dining experience on board. Developed by Luxair’s Catering teams, the renewed menus bring a fresh approach to the inflight service.

Choice and variety remain an important part of this offer. A wide range of meals is available to meet different needs and preferences, including vegetarian, gluten-free, diabetic and fruit options in both hot and cold versions. Younger travellers are also catered for, with dedicated children’s and baby menus offered in both Economy and Business Class.

This approach was further developed through a collaboration with Michelin-starred Chef Benoît Potdevin. His expertise brought a French touch to the Luxembourg–Dubai route in Business Class, where inflight dining became a distinctive part of the onboard experience.

Enhancing identity

In 2025, Luxair introduced TASC (The Art of Serving Course), an in-house training programme designed to strengthen service culture and to bring greater consistency across all passenger touchpoints. Built on passenger feedback and operational experience, the programme sets clear service standards while reinforcing the distinctive character of Luxair’s hospitality. At the same time, new uniform accessories - including scarves and ties reflecting Luxair’s refreshed brand and the colours of Luxembourg - were introduced to create a more consistent look and make Luxair’s visual identity even more recognisable.

A smooth and reliable travel experience

The Luxair experience goes beyond the cabin and covers every stage of the passenger journey. In March 2025, Luxair launched a new self-service check-in app, giving passengers more flexibility and making it easier to prepare for their trip.

This passenger experience is supported by strong operational standards. In 2025, Luxair successfully renewed its IOSA (IATA Operational Safety Audit) certification, one of the most recognised benchmarks in the aviation industry, confirming its focus on safety and operational excellence.

At the same time, Luxairtours maintained its ISO 9001 Quality Management certification for the 16th consecutive year, reflecting the tour operator’s ongoing focus on customer satisfaction. Carefully selected hotels, curated itineraries and dedicated support help ensure a reliable and well-rounded travel experience.

➃ In the cockpit: operating with responsibility

Defending regional aviation and its role in Europe

As a regional airline focused on connectivity and more sustainable travel, Luxair continued in 2025 to underline the important role regional aviation plays in Europe’s economy, social cohesion and environmental transition. In April, Luxair publicly supported the findings of a report published by the European Regions Airline Association (ERA), which highlighted the economic, social and environmental value of regional airlines across Europe at a time of growing pressure on the sector. Regional aviation supports more than 335,000 jobs and generates 23.1 billion EUR in Gross Value Added across Europe. It also acts as a powerful enabler of tourism, indirectly contributing to 4.5 million additional jobs and generating 205 billion EUR in GVA. Beyond its economic impact, regional aviation also plays an important role in connecting regions and communities to major hubs and essential services such as healthcare, education and employment, while supporting wider social and economic development.

Against a backdrop of volatile fuel prices, tighter regulation and increasing competitive pressure, Luxair also called for a more balanced and future-proof framework for regional aviation. This included updating the European Air Services Regulation (Regulation 1008/2008), adapting EU261 to better reflect the realities of regional carriers, ensuring fair access to airport infrastructure, addressing unfair pricing practices, and reviewing cybersecurity compliance rules for smaller operators.

Luxair also supported efforts to improve the management of European airspace through initiatives such as SES2+, aimed at making air traffic more efficient, reducing delays and lowering fuel use. In parallel, the airline continued to advance its own decarbonisation roadmap through fleet modernisation and the introduction of Sustainable Aviation Fuel from 2025, while supporting policies that help drive the transition without placing too much cost pressure on passengers.

As Luxembourg’s national airline, Luxair sees regional aviation as more than a transport service. It is also an important contributor to economic activity, social cohesion and connectivity across regions. In this context, air travel must remain both accessible and socially sustainable, so that it can continue to serve people, regions and economies in a responsible way.

Caring for our people

Employee well-being continued to be a priority in 2025. A range of initiatives supported both physical and psychological health, including awareness activities, access to psychological support, ergonomic measures for demanding roles, and actions encouraging physical activity and stress reduction. Employees also had the opportunity to take part in sporting events, weekly well-being sessions and staff events, which helped strengthen team spirit across the company.

Training and development also played an important role. Programmes were delivered across the company, covering onboarding, regulatory requirements, leadership development and ongoing skills enhancement. This also included training linked to the introduction of the Embraer E195-E2, helping prepare pilots and operational teams for the arrival of the new aircraft type. Alongside this, Luxair continued its first-aid training campaign across the company. In addition to flight crew, who are trained in first aid as part of their role, 10 % of employees outside flight crew functions are now certified first aiders, helping strengthen emergency preparedness.

Luxair’s focus on its people is also reflected in the company’s social dialogue. The new Collective Agreement signed in 2025, valid until 31 December 2027, provides a stable framework for employees and the company alike. It recognises employees’ contributions while supporting Luxair’s long-term development and the evolving needs of the business, also in light of the introduction of the new fleet.

Rooted in community, built on trust

Deeply anchored in Luxembourg, Luxair continues to maintain close links with the communities it serves, with long-standing partnerships built on trust and shared values. As Luxembourg’s national airline since 1961, it has a strong connection to the country and its institutions. In 2025, this could be seen through a series of activities linked to the historic Trounwiessel and the enthronement of Grand Duke Guillaume, which included commemorative stickers on Luxair aircraft and onboard celebrations with passengers.

This connection was also visible in moments that brought people together throughout the year. For example, Luxair celebrated both Luxembourg’s National Day on 23 June and Europe Day on 9 May with special touches for passengers highlighting its ties to Luxembourg and its connection to Europe. In the same spirit, the airline partnered with den Atelier, one of Luxembourg’s best-known live music venues, for its 30th anniversary, unveiling a special aircraft livery inspired by the energy of live music. Luxair also supported emerging national talent through a partnership with tennis player Chris Rodesch.

Throughout 2025, Luxair remained actively engaged in social and charitable initiatives. Proceeds from its Christmas jumper collection were donated to the Fondation du Grand-Duc Guillaume et de la Grande-Duchesse Stéphanie, while partnerships with organisations such as Luxembourg Air Rescue reflected a shared commitment to safety, professionalism, and service to the community. The airline also supported local associations, educational projects and medical causes, and co-organised dedicated events for children and families, creating meaningful moments beyond travel itself.

Through these actions, Luxair continues to strengthen its role not only as the country’s airline but also as a committed partner to the communities it serves.

➄ Ready for departure: the figures behind the journey

Consolidated balance sheet

Consolidated balance sheet

b)

Consolidated balance sheet

Consolidated balance sheet

b)

Consolidated income statement

a)

Consolidated income statement

Financial performance at a glance

Thank you to all Luxair staff members: your dedication shaped 2025

Ready for departure: the figures behind the journey

Our special thanks go to the Luxair, LuxairServices and Luxair Technics teams for their support during the photoshoots for this Annual Report.

This annual report was developed in-house Published by

for their contributions.