German airline giant Lufthansa on Tuesday significantly raised its profit outlook for 2022, citing continued "strong demand for air travel" as the industry leaves the pandemic slowdown behind.

The group now expects adjusted operating profits (adjusted EBIT) to reach around €1.5 billion – up from an estimate of "over one billion euros" in October that was itself an upward revision of an earlier projection of €500 million.

The company's performance in October and November had "exceeded expectations", Lufthansa said in a statement, adding that passenger bookings for the months ahead suggest "the positive trend" will continue.

Lufthansa "continues to see strong demand for air travel. Average yields in the passenger business remain well above pre-crisis level", it said.

Lufthansa "continues to see strong demand for air travel. Average yields in the passenger business remain well above pre-crisis level"- Lufthansa statement

Two other key divisions, Lufthansa Cargo and Lufthansa Technik, are on track to post record results this year, it added.

Lufthansa made huge losses when the coronavirus brought air travel to a halt, and had to be bailed out by the German government in 2020.

But a strong rebound in demand since then has lifted the company's fortunes faster than expected.

In the third quarter of 2022, the group made a net profit of €809 million, compared with a loss of €72 million over the same period a year earlier.

The German government sold its remaining stake in Lufthansa in September, putting the airline back in private hands.

The group – which includes Eurowings, Austrian, Swiss and Brussels Airlines – will publish its full-year results on March 3.