Lufthansa reports Euro 112m loss

Thursday, March 11, 2010

Gary Noakes


The recession prompted the Lufthansa Group to record a loss of €112 million last year, reversing a €542 million profit in 2008.

The Lufthansa Group comprises BMI, Swiss International Air Lines and Austrian Airlines as well as Lufthansa’s budget subsidiary Germanwings and other operations such as cargo.

It suffered big operating losses on the passenger side of its airlines’ operations. Lufthansa lost €107 million, Bmi $78 million and Austrian, which, like BMI joined the group only in mid 2009, €31 million.

However Swiss made an operating profit of $93 million and Germanwings €24 million.

The group has put in place a cost-cutting plan to boost income by €1 billion by the end of 2011.



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