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MTU Aero Engines concern over weak profits by European airlines

10-Sep-2012 1:43 PM

MTU Aero Engines CEO Egon Behle expressed concerns that the unresolved sovereign debt crisis in the euro zone is weighing on the continent's airlines, saying that air carriers' profits are falling due to the crisis, despite growing passenger number. Mr Behle, as reported by Focus.de, stated: "The crisis has already weakened scores of airlines as their profits are falling," he said. He noted that the exchange rate is benefitting the company, stating that a dollar rate fluctuation of USD0.10 will affect earnings by approximately EUR7 million.