Lufthansa reports fivefold profit rise for 2010
The Lufthansa Group, the parent of Lufthansa, Bmi and Austrian Airlines, managed to increase its operating profit fivefold to €876 million for 2010.
Lufthansa itself achieved an operating profit of €382 million, compared to a loss of €107 million in 2009.
Bmi recorded an operating loss of €145 million and Austrian Airlines €66 million.
The Group said a rise in demand and cost reduction measures had helped it offset the negative impact of the hard winter, the pilots’ strike and the volcanic ash disruption.
Chairman and CEO Christoph Franz said: “We can be highly satisfied with this result; it shows that we have learned from the crises of the past.
“We maintained our financial and operational flexibility as well as our usual cost discipline and convincingly mastered the past year – not least thanks to a strong team performance by all of our staff and management on the ground and in the air. And most importantly, Lufthansa has widened the gap to its competitors. That makes us proud and spurs us on to perform even better in 2011.â€
But looking ahead, he added: “2011 will not be a walk in the park. The headwinds of competition are becoming rougher on the European routes and long-haul routes to Asia and the Americas. The German air traffic tax hits the German and European airlines, as well as their passengers, where it hurts.
“The fuel prices are at record levels. And we are not immune to the consequences of political unrest, terrorist attacks and natural disasters.â€
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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