Lufthansa Cargo announced it is taking over the management of Croatia Airlines’ cargo capacity, including cargo handling, sales and accounting, for services from Croatia to other European nations, expanding their partnership, which commenced in Jan-2007 (International Freight Weekly, 16-Sep-09). Croatia Airlines will solely continue the marketing function for these services.
Lufthansa Cargo to manage Croatia Airlines' cargo capacity
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Dubrovnik Airport: providing essential tourism support for a region. Croatia Airlines' 3rd base
Dubrovnik, in the far south of Croatia on the Adriatic Sea, has the country’s third busiest airport after Zagreb and Split. The airport is leisure-oriented with a mix of FSC/network carriers, LCCs and charter carriers.
The economy of the small city is heavily reliant on tourism, which the airport supports by way of handling almost two million passengers annually. Because of the unique nature of that tourism Dubrovnik Airport has no outright competitors either within or outside Croatia with the exception of Split Airport to the north, whose profile is very similar.
This report examines Dubrovnik Airport by way of several sets of metrics, looks at the airports that are rivals to it, at its construction activities and its current and projected ownership.
Lufthansa cuts 1Q2016 operating loss, but mainly thanks to one-offs and fuel. Cost focus still key
The Lufthansa Group narrowed its operating loss in the seasonally weak 1Q2016, in spite of a fall in revenue. A weak pricing environment was more than offset by a reduction in unit costs. This was principally thanks to lower fuel costs, but there was also a welcome fall in underlying ex fuel CASK at constant currency.
However, although Lufthansa Passenger reported higher profits than in 1Q2015, there was a decline for SWISS, Eurowings, Cargo, MRO and Catering. For LCC Eurowings, this was partly due to start-up costs in long haul and at Vienna, but it also reflected strong LCC competition in Germany. Lufthansa is still considering whether to add Brussels Airlines to its Eurowings operation. Austrian only improved its result because of a one-off gain and, moreover, it seems that the improvement in operating profit at the Group level compared with 1Q2015 was due to one-off items.
Lufthansa still expects to post a slightly higher adjusted EBIT result in 2016 than in 2015. Nevertheless, its 1Q2016 report demonstrates that, for all its restructuring progress, it is not achieving results that are consistent with the broader cyclically high margins of the global airline industry. Further CASK reduction remains the focus.