Lufthansa German Airlines
India
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56,All the business segments of the Lufthansa Group contributed to the improved result with their positive and partly even increased operating profit. In the Passenger Business segment, the exorbitant increase in fuel costs and the restrained demand in certain markets had a negative influence on the result. Therefore, it is pleasing that sales in this segment could be increased in spite of the considerable burden placed on it by the world economy.
The attractive premium products, the selective expansion of the offer and the successful integration of SWISS all played decisive roles in ensuring this success. Mayrhuber stressed that with the current difficult market environment that was already causing many airlines to cancel schedules and significantly reduce their fleet and personnel capacities, the time is now more right than ever to focus on the things that one is actually in control of. Besides the quality, these include particularly efficiency, internal costs, flexibility and provisions, for example, in the form of fuel price hedging.
The Logistics business segment also achieved a significant rise in revenue and an improved operating result during the first six months of the year. The MRO business segment was also able to achieve growth and increase its contribution to the result. The result of the Catering business segment was on par with the previous year’s result. The IT Services business segment was able to profit from targeted cost management.
Lufthansa remains on course with an improved operating result: during the first six months of 2008, the Group increased its offer and sales. The Group improved its operating result to 705 million euros, which marked an increase of 219 million euros in comparison with the first six months of 2007. The newly consolidated SWISS contributed a share of 157 million euros.
The net profit for the period was reported at 402 million euros; during the same period last year this figure was at 992 million euros, however, it included book gains of 503 million euros from the sale of the Thomas Cook stake, as well as 71 million euros from the share buy-back by WAM Acquisition S.A. “The result is a strong performance in a highly challenging environment.
It marks the reward for the hard work that has been invested by all of the Lufthanseats and all of the Group’s companies, such as SWISS. It is the result of careful precautions”, commented Lufthansa Chairman and CEO Wolfgang Mayrhuber, speaking at the presentation of the first-half results.
