Saturday, October 30, 2010

Lufthansa Group flies through financial and economic crisis

Lufthansa Group announced an operating profit of 612 million Euros after nine months and projections for Full-year operating result is expected to exceed 800 million Euros threshold. With these results, the Executive Board expect dividend payment for 2010

Third quarter operating profit of 783 million Euros was announced for the current business year, 565 million Euros more than in the same quarter of the previous year. According to the release the good result is the consequence of the increasingly positive development of demand in passenger and freight traffic, and the success of the cost-cutting programmes in all of the business segments, as well as of the realized synergy potentials in the Airline Group. Market-oriented offers meant that the Group’s companies were able to consolidate, and some even expand, their strong positions in their respective markets. Following the extreme winter, pilots’ strike and airspace lockdowns, which all burdened the result and led to an operating loss after the first six months, the Group has gone on to record an operating profit of 612 million Euros for the first nine months of the year. This represents a year-on-year increase of about 386 million Euros. Revenue increased by 4 billion Euros to 20.2 billion Euros. “The Lufthansa Group has successfully flown through the economic and financial crisis. The good result is the consequence of a targeted and determined reaction, and a remarkable team performance. A strong Airline Group and optimized cost structures are success factors that will also pay off in the future,” commented Lufthansa Chairman and CEO Wolfgang Mayrhuber, speaking at the presentation of the quarterly figures.

More information available at the firm’s website:

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