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Economic Crisis Burden

Lufthansa reports 15% revenue drop for first half of 2009

eTN Staff Writer  Jul 30, 2009

In the first half-year of 2009, the Lufthansa Group suffered a sharp decrease in revenue to EUR 10.2 million (previous year: EUR 12.1 million) and generated an operating profit of EUR 8 million (previous year: EUR 677 million).

The persistent economic crisis and its effects on demand, particularly in the premium segment, placed a considerable burden on the result. The net loss for the period was, therefore, EUR 216 million (previous year: net profit of EUR 381 million). Last year's figures have been adjusted to account for valuation changes under IFRIC 13.

Efforts to safeguard earnings have been enforced in all business segments.
Lufthansa Passenger Airlines has launched the program CLIMB 2011 in order to lower the cost base sustainably by EUR 1 billion by the end of 2011. The group's efforts remain directed at generating an operating profit for the full year 2009. However, there are considerable risks to the achievement of this goal from future developments in demand and fuel prices. It also depends on the additional measures being successfully implemented in the near future.

Further details and the complete interim report for the first half-year 2009 will be published by Lufthansa on July 30, 2009. The information will be available on the Internet from 8:00 CEST at

Lufthansa reports 15% revenue drop for first half of 2009
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