Good first half results at Lufthansa


Lufthansa maintains its successful course: during the first six months of 2007, the Group increased its capacity and sales. The Group improved its operating result to 486 million euros, which marked an increase of 64 per cent in comparison with the first six months of 2006. The net profit for the term was reported at 992 million euros; this figure includes 503 million euros of profit from the sale of the shares in Thomas Cook.

All the business segments of the Group played a role in the success, whereby the passenger business made the largest contribution. During the first half of 2007, the airlines of the Lufthansa Group welcomed 27 million passengers on board – a record figure in the Group’s history. In this case, the continued positive development on the European market deserves a special mention. The expansion of the global network of routes and the successful marketing of the betterFly offers in Germany and Europe have also paid off.

The successful result during the first half of the year also included the performance by SWISS, which was fully integrated into the Lufthansa Group on 1 July 2007.

In view of the positive business development, Lufthansa is confident of increasing profitability still further and now anticipates an operating result, – in line with market expectations – significantly above one billion euros for the full financial year.

It is a nice result, but we should not forget that some subsidiaries of Lufthansa are doing quite bad. For example Lufthansa System’s first half profit decreased around 20%. The reason of this bad result is huge overhead costs, inefficient workflow and low quality standards. I hope I helped the management where to start looking around a little bit.

By Szafi

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