Germanwings profitable in nine months to Sep-2009, with yields remaining stable
Lufthansa reported (29-Oct-2009) the following financial highlights for its LCC subsidiary, Germanwings, for the nine months ended Sep-2009:
- Revenue: EUR451 million, -7.6% year-on-year;
- Operating profit: EUR39 million, +425.0%;
- Operating margin: 8.4%, n/a;
- EBITDA: EUR64 milllion, +112.3%;
- Load factor: 80.8%, -2.5 ppts.
Lufthansa added that Germanwings has “successfully established itself in the no-frills segment in Europe,” with the LCC's average yields being maintained at 2008 levels. Looking forward, Germanwings expects a positive operating result in the full year, which is "set to be well above last year's".