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Germanwings profitable in nine months to Sep-2009, with yields remaining stable

30-Oct-2009 2:04 PM

Lufthansa reported (29-Oct-2009) the following financial highlights for its LCC subsidiary, Germanwings, for the nine months ended Sep-2009:

  • Revenue: EUR451 million, -7.6% year-on-year;
  • Operating profit: EUR39  million, +425.0%;
  • Operating margin: 8.4%, n/a;
  • EBITDA: EUR64 milllion, +112.3%;
  • Load factor: 80.8%, -2.5 ppts.

Lufthansa added that Germanwings has “successfully established itself in the no-frills segment in Europe,” with the LCC's  average yields being maintained at 2008 levels. Looking forward, Germanwings expects a positive operating result in the full year, which is "set to be well above last year's".