Published on Friday, July 29, 2011
Lufthansa Group returned to operating profit during the first six months of 2011, despite being hit by the rising price of oil and the political crises in North Africa and the Middle East.
The group, which also includes bmi, reported a profit of 3m Euros during the period, compared with a loss of 171m Euros for the same period in 2010.
Sales were up by 11.4% from 12.6bn Euros to 14.1bn Euros during the half year.
Lufthansa board member Stephan Gemkow said: "Lufthansa remains among the profitable airlines in the world even after strong headwinds.Â All our business segments are continuing to work hard to extend the gap to our competitors."
Bmi and Austrian Airlines, also owned by the group, were worst affected by the events in north Africa and the tsunami in Japan.
Move scroll bar (above) left to right for more videos!
The recent insolvency of Low Cost Travel Group, one of the large players in the travel industry had a big impact on the travelers, hotels and all related players from both wholesale & retail arms. There were about 27,000 people on a holiday who had booked through the company comprised of a €200 million wholesale arm and €500 million OTA / retail arm.