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Lufthansa Posts Quarterly Profit

October 28, 2010 By: Jena Tesse Fox

Lufthansa has posted an operating profit of $1.08 billion in the third quarter of the current business year, $782.9 million more than in the same quarter of the previous year.

The profit, the company said in a statement, is the result of the increasingly positive development of demand in passenger and freight traffic, and the success of the cost-cutting programs in all of the business segments. Market-oriented offers meant that the Group’s companies were able to consolidate, and some even expand, their 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 $848 million for the first nine months of the year. This represents a year?on?year increase of about $534 million. Revenue increased by $5.5 billion to $28 billion.

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By Jena Tesse Fox | October 28, 2010
After a rough year, the German airline has posted a significant profit for the most recent quarter.
Filed under : Air Travel, Germany