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".