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Lufthansa optimistic despite Q1 losses almost doubling
Lufthansa has reported that its first-quarter net losses almost doubled, despite a rise in its operating profit by 7 million Euro to 12 million Euro, “amid a persistently difficult market environment”.
The airline, Europe’s largest airline group by revenue, said it had performed “soundly” during the first quarter of 2002, and said it anticipated “distinctly better” operating results this year. The Group’s overall revenue increased by 6.1 per cent to Euro 3.9 billion.
In a statement, the airline said: “Sales in the first quarter fell distinctly compared with the same period last year. However, the slow recovery which began in the final weeks of 2001 continued steadily up to March, although Germany is currently still lagging behind the upward trend. Within the Passenger Business segment, long-haul services particularly are showing a pleasing course of development.”
The airline was cautiously optmistic about the year ahead. The statement continued: “The experts disagree as to the speed and intensity with which the world economy is recovering. In the United States, GDP grew in the first quarter of 2002, but consumers are still unsettled, with the result that the underlying situation for the US air traffic industry has not yet fundamentally changed.
“However, economic momentum is expected to pick up in the second half of the year – including in Europe.”
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