Lufthansa operating profit down 36%

Operating profit in 2012 totalled €524 million

Lufthansa Group has posted revenues for 2012 totalling €30.1 billion, an increase of 4.9%. However, this generated an operating profit of €524 million, a fall of 36.1%. The operating result contains restructuring costs arising from measures taken in the group’s SCORE program, which in 2012 amounted to €160 million. But the partial transfer of Austrian Airlines’ flight operations to Tyrolean Airways had a positive one-off effect of €115 million euros on the operating result.
“Profitability for an airline is not simply a given in the present industry environment, it is a good performance. In order to successfully meet the changes in the aviation industry, however, we need to perform even better,” Christoph Franz, Lufthansa’s CEO and chairman of the board commented. “Only then can we create the necessary scope for the measures we need to take to shape the future of the Lufthansa Group ourselves.”
Group net profit in 2012 rose to €990 million from minus €13 million in 2011. This increase is “attributable to non-recurring effects ensuing from the sale of equity investments”, the group said in a statement.
In a meeting, Lufthansa’s executive board decided to recommend to the airline’s supervisory board that Lufthansa purchases a total of 108 more new aircraft for the group, including eight long-range aircraft. The order has a total list-price value of around €9 billion. Deliveries are scheduled to begin in 2015 and will continue until 2025.
TTG Nordic
[pictured: Lufthansa A380 and new Terminal A-Plus, Frankfurt; courtesy Lufthansa]

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