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31-Oct-2014 3:52 PM

Lufthansa Group maintains forecast for 2014 operating profit

Lufthansa Group maintained (30-Oct-2014) a forecast for 2014 operating profit of EUR1 billion, despite "experiencing a difficult third quarter, and despite strike action eroding EUR 170 million from its earnings results." Lufthansa Group stated: "Overall, the Lufthansa Group still expects to achieve a reported operating result of around EUR 1.0bn for the financial year 2014. This includes a EUR 340m benefit as a result of the change to the depreciation policy. This forecast also includes strike impact until the end of October; how-ever it does not include costs that may be incurred as a result of further strikes. Key drivers for the result development remain the uncertain development of airline revenue and increasingly also changes in the oil price and the jet fuel crack, as well as exchange rate movements." Lufthansa Group chief officer finance & aviation services Simone Menne said: "Our results for the first nine months of 2014 represent a sound achievement in a difficult and highly competitive market environment, and one that enables us to confirm our current projections for the year as a whole." [more - original PR - English/German]

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