Lufthansa lowers 2015 guidance

Lufthansa Group lowered (30-Oct-2014) its forecast for 2015 operating profit from EUR2 billion to a "significant improvement on 2014." The carrier is forecasting a EUR1 billion operating profit for 2014. Lufthansa Group chief officer finance & aviation services Simone Menne said: "When we look ahead, though, we can see that the economic slowdown and the continuing declines in our passenger yields in the face of such fierce competition will affect our operating scope in the year ahead. This is why we need to modify our projections for 2015, even though we expect it to produce an operating result that is significantly above this year's. And in the medium term, given the high investments awaiting us, we must further improve our operating result. The need to do so, and our rising indebtedness, are clear signs to us that we must take appropriate corrective action here in the form of the structural transformations that we are currently embarking on." [more - original PR - English/German]