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Lufthansa operating loss narrows in 1Q2011

6-May-2011 3:26 PM

Lufthansa Group revenue up 13% – financial highlights for the three months ended 31-Ma-2011:

  • Total operating revenue: EUR7194million, +12.8% year-on-year;
  • Revenue: EUR6439 million, +11.8%;
    • Passenger Airline Group: EUR4849 million, +12.2%;
      • Lufthansa Passenger Airlines: EUR3304 million, +15.1%;
      • SWISS: EUR871 million, +16.8%;
      • Austrian Airlines: EUR411 million, -3.7%;
      • bmi: EUR178 million, -9.2%;
      • Germanwings: EUR107 million, +4.9%;
  • Operating costs: EUR7369 million, +9.7%;
    • Labour: EUR1693 million, +8.7%;
    • Fuel: EUR1366 million, +27.8%;
  • Operating profit (loss): (EUR227 million), compared with a loss of EUR330 million in p-c-p;
    • Passenger Airline Group: (EUR391 million), compared to a loss of EUR373 million in p-c-p;
      • Lufthansa Passenger Airlines: (EUR234 million);
      • SWISS: EUR17 million, +1600%;
      • Austrian Airlines: (EUR64 million), compared with a loss of EUR66 million in p-c-p;
      • bmi: (EUR63 million), compared with a loss of EUR45 million in p-c-p;
      • Germanwings: (EUR44 million), compared with a loss of EUR34 million  in p-c-p;
  • EBIT (loss): (EUR578 million), compared with a loss of EUR306 million in p-c-p;
  • Net profit (loss): (EUR507 million), compared with a loss of EUR298 million in p-c-p;
  • Passenger numbers: 22.1 million, +6.9%;
    • Lufthansa Passenger Airlines: 13.8 million, +12.5%;
    • SWISS: 3.6 million, +5.5%;
    • Austrian Airlines: 2.1 million, -1.0%;
    • bmi: 1.2 million, -12.2%;
    • Germanwings: 1.3 million, -6.2%;
  • Passenger load factor: 72.5%, -2.6 ppts;
  • Lufthansa Passenger Airlines: 72.6%, -2.7 ppts;
  • Cargo volume: 528,000 tonnes, +18.5%;
  • Cargo load factor: 67.3%, -1.5 ppts;
  • Total assets: EUR30,005 million, +7.2%+2.4% when compared with the period ended 31-Dec-2010;
  • Total liabilities: EUR21,900 million, +4.6% when compared with the period ended 31-Dec-2010. [more]

Lufthansa Group: "Revenue growth in the Passenger Airline Group has not yet delivered the expected effects on earnings. The reasons for this are the crises in North Africa and Japan mentioned earlier and the leap in the oil price. Depending on the company, these effects dampened or outweighed the positive underlying trend in demand. The assumption is that demand will remain subject to fluctuations, especially in the crisis areas. The oil price will also continue to depress results. All the companies in the Passenger Airline Group are therefore continuing their restructuring measures and programmes to safeguard earnings and are preparing for new challenges, if necessary by means of short-term adjustments. All in all, for the full year the expectation is still to increase revenue and operating result compared with last year,” Company statement. Source: Lufthansa, 05-May-2011.