Deutsche Lufthansa AG

Lufthansa intensifies measures to improve earnings

News   •   Oct 31, 2012 13:29 GMT

In the first nine months of the year, the Lufthansa Group generated an operating result of EUR 628m, EUR 96m less than in the first nine months of last year. Profits were hit particularly hard by record fuel prices. The persistently intense price pressure, the air traffic tax and the costs of EU emissions trading certificates also impacted on earnings. Christoph Franz, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, said, “Despite strong headwinds, the Lufthansa Group has generated a respectable result, especially in comparison with the rest of the industry. The earnings contributions from our service segments were particularly helpful. The first projects in our SCORE programme are also having an effect. We are making progress on the costs within our control. However, that is not enough to earn adequate margins.” The Group increased its revenue by 6.1 per cent to EUR 22.8bn and the net profit for the period of EUR 474m was 64.6 per cent higher than the previous year, which was characterised by one-off effects. At the end of the third quarter, the service segments were all profitable and better than last year. As in prior quarters, they boosted the consolidated operating result. The MRO segment increased its operating profit to EUR 227m. The Catering and IT Services segments also reported operating profits of EUR 73m and EUR 13m respectively.

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