30.07.2009
FLUG REVUE

Lufthansa: Crisis in the industry burdens economic result

Lufthansa has posted an operating profit of eight million euros for the first six months of 2009. The Group has therefore not been able to match the good results of the previous years during the current business year. The causes for the decline in earnings lie in the economy-related weaker demand and the altered travel behaviour of the passengers.

Business travellers in particular, have increasingly been buying tickets in the cheaper booking classes, leading to a significant slide in average yields during the first half of the year. “Lufthansa has made provisions and is holding its course against the competition in highly challenging conditions. This is a strong performance by all of the employees in the Group; however, we still cannot be satisfied with this result”, commented Member of the Executive Board of Deutsche Lufthansa AG and Chief Financial Officer Stephan Gemkow, speaking at the presentation of the first-half results.

Chairman of the Executive Board and Chief Executive Officer of Deutsche Lufthansa AG Wolfgang Mayrhuber commented on the economic developments in the Group’s individual business segments saying: “The figures speak for themselves. Crises ruthlessly reveal the weak points and we shall act. It is only sustainable structures that will allow our company to match its past successes and succeed against the competition in the long-term.” During the first half of 2009, the Passenger Airline Group in particular had to deal with the economy-related decline in demand and achieved significantly lower traffic revenues. The operating result was therefore below the figure for the previous year. In response to the negative trend in its core business segment, Lufthansa has launched “CLIMB 2011”, a program to safeguard the earnings of Lufthansa Passenger Airlines.

The aim is the sustainable improvement of the result for Lufthansa Passenger Airlines by one billion euros by the end of 2011; thereby, the focus will lie on cutting costs. According to Gemkow, the measures of the program would be elaborated and implemented during the upcoming weeks. The Logistics business segment also showed a significant slump in revenue and loss in the operating result during the first six months of the year, and consequently intensified the measures to safeguard earnings. Among others, the measures included the reduction of cargo capacity by 30 per cent and the increase of short-time work to 25 per cent in the business segment during the second quarter. MRO was the only business segment to record an increase in revenue despite the highly challenging conditions. However, the operating result was lower than in the same period the previous year: This was mainly due to increasing price pressure, reserves for bad debt and foreign exchange losses due to the record date effect in inventory valuation. The measures to safeguard earnings were also intensified in the IT-Services business segment. Lowering the number of external staff by half, time off in lieu and reducing the administrative costs by 30 per cent are all measures aimed at counteracting the slump in revenue and the operating result. Revenue and profits also slumped in the Catering business segment. The “Performance 2009“ and “Upgradeplus” programs aim to secure an operating profit for the current business year and ensure the set up of a sustainably competitive company structure.



Weitere interessante Inhalte
Insolvente Airline Lufthansa und easyJet bieten für Alitalia

17.10.2017 - Kaum ist die Übernahme von Teilen der insolventen airberlin in halbwegs trockenen Tüchern, stehen sich Lufthansa und easyJet in Sachen Alitalia wieder gegenüber. … weiter

Bestseller aus Europa Top 10: Die größten Kunden der A320-Familie von Airbus

17.10.2017 - Mit mehr als 13000 verkauften Flugzeugen ist die A320-Familie der größte Erfolg von Airbus. … weiter

Jumbo-Jet-Kunden Top 10: Airlines mit der größten Boeing 747-Flotte

12.10.2017 - Viele Jahrzehnte war die Boeing 747 das größte Passagierflugzeug der Welt. Fast jede internationale Airline auf der Welt setzte auf den Jumbo Jet aus Seattle. Wer kaufte die meisten Exemplare der … weiter

Einigung vom März bestätigt Lufthansa und VC unterschreiben Tarifverträge

10.10.2017 - Lufthansa und die Pilotengewerkschaft Vereinigung Cockpit (VC) haben heute Verträge zu allen offenen Themen unterzeichnet. Sie entsprechen der im März erzielten Grundsatzvereinbarung. … weiter

Airlines des Lufthansa-Konzerns Neue Ziele im Winterflugplan

10.10.2017 - Lufthansa stationiert erstmals seit 2001 wieder ein Langstreckenflugzeug in Berlin und auch Eurowings baut ihr Interkontinentalangebot weiter aus. … weiter


  • Hersteller

    Lade...

  • Typ

    Bitte Hersteller auswählen!

FLUG REVUE 11/2017

FLUG REVUE
11/2017
09.10.2017

Abonnements
Digitalabo
E-Paper
Heft-Archiv
Einzelheft bestellen


- US-Firma Boom: Nachfolger der Concorde?
- Verhandlungen: Das Ende von airberlin
- Swiss: C Series im Liniendienst
- RAF & USAF: „Red Air“ mit zivilen Jets
- X-37B: Geheimer Raumgleiter der USAF