Lufthansa earnings down in third quarter
Oct. 27, 2011, Berlin, Ger. - Germany's biggest airline, Deutsche Lufthansa AG, says its third-quarter earnings dropped by 21 per cent amid global economic uncertainty and high fuel prices.
Lufthansa on Thursday reported net earnings of C494 million ($687 million) for the July-September period — down from C628 million a year earlier.
The group's revenue rose to C8.08 billion from C7.57 billion — an increase of 6.7 per cent.
Lufthansa already issued a profit warning last month, blaming a disappointing performance in August, deteriorating booking forecasts for the airline industry and wider economic uncertainty. It stuck to
the revised full-year outlook it gave then.
The Lufthansa group includes Swiss International Airlines, Austrian Airlines, budget offshoot Germanwings and Britain's BMI.