Lufthansa CFO, Stephan Gemkow, stated ticket prices began to rebound in 1H2010, with passenger travel demand rising faster than capacity growth, with the CFO adding that the company is “even more confident” that it will reach a target for a full-year operating profit that exceeds the EUR130 million reported in 2009 (Bloomberg/Reuters/Dow Jones, 29-Jun-2010). He added that the profit result should be “in line with current market expectations” adding that revenue will increase from 2009, although no further details were provided. Mr Gemkow added that a return of demand for premium travel in Europe is “doubtful". Mr Gemkow also stated the carrier is seeking to reduce costs by EUR1 billion by 2012, and was "on track" to achieve that goal.
30-Jul-2010 10:12 AM