News | Wednesday, 03 March 2010

Lufthansa reports €112 million loss

Lufthansa, Germany’s national carrier yesterday reported a 2009 net loss of €112 million after net earnings of €542 million in 2008. The company said that it would consequently not pay a dividend.
Lufthansa, suffering from a sharp slide in demand in response to the financial crisis last year, said sales fell 10 per cent to €22.3 billion.
But at the operating level, the company managed to turn a profit of €130 million, albeit well off the 2008 figure of €1.3 billion.
A company spokesman said the annual net loss was Lufthansa’s first since 2003.
Despite the shortfall, Lufthansa was showing a gain of 2.14 per cent to €11.34 in mid-day trade on a Frankfurt market that was stronger overall.
The company is to provide a fuller account of its annual figures on March 11.

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Lufthansa reports €112 million loss