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For the first half-year of 2009 Lufthansa reports a decrease in revenue of 15 per cent and an operating result of EUR 8m.
For the first half-year of 2009 Lufthansa reports a decrease in revenue of 15 per cent and an operating result of EUR 8m.30-Jul-2009 |
Airline Code [DLH]
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Tags :Continental Europe, Lufthansa, finance, Lufthansa Adhoc Release pursuant to §15 of the Securities Trading Act (WpHG) In the first half-year of 2009 the Lufthansa Group suffered a sharp decrease in revenue to EUR 10.2bn (previous year: EUR 12.1bn) and generated an operating profit of EUR 8m (previous year: EUR 677m). The persistent economic crisis and its effects on demand, particularly in the premium segment, placed a considerable burden on the result. The net loss for the period was therefore EUR 216m (previous year: net profit of EUR 381m). Last year's figures have been adjusted to account for valuation changes under IFRIC 13.
Efforts to safeguard earnings have been enforced in all business segments. Lufthansa Passenger Airlines has launched the programme CLIMB 2011 in order to lower the cost base sustainably by EUR 1bn by the end of 2011. The Group's efforts remain directed at generating an operating profit for the full year 2009. However, there are considerable risks to the achievement of this goal from future developments in demand and fuel prices. It also depends on the additional measures being successfully implemented in the near future.
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