iscover
The Lufthansa Group has defied a major fall in revenue to record a €130m (A$195.3m) operating profit for 2009.
The group saw a decline in revenues of 10 per cent to €22.2bn (A$33.3bn) as weaker traffic and yields affected its airline (including its subsidiaries Swiss, Austrian Airlines and bmi) and cargo operations which saw them record consolidated losses. However, this was counteracted by stronger results from Lufthansa Technik, LSG Skychefs and its IT Services division.
This content is available exclusively to Australian Aviation members.
A monthly membership is only $5.99 or save with our annual plans.
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
“Despite the highly challenging conditions, we cannot be satisfied with our operating profit, but it remains nevertheless a remarkable performance,” commented Lufthansa chairman and CEO Wolfgang Mayrhuber.
Mayrhuber added that the group was expecting an improvement in revenues for 2010 and maintained its goal of recording a higher operating profit. “The timing of a strong recovery of demand and the development of the oil price pose risks that could result in scenarios that either foster or hinder the realisation of this aim,” he said.
