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June 2013


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02. Aug
2012

Lufthansa Profit Decline on Higher Fuel Cost and Taxes

Posted by: keyurpanchal5

German airline Lufthansa is blaming high fuel costs and new taxes on air travel in Germany and Austria for a 24 percent decline in Q2 earnings. Net earnings fell to (EURO)229 million ($270 million) from (EURO)301 million a year earlier. Revenue grew by 6 percent to (EURO)7.9 billion and the number of passengers between April and June rose slightly to 27.5 million. The Lufthansa group includes Austrian Airlines and Swiss. The Cologne-based company also holds stakes in Brussels Airlines and JetBlue of the United States. Lufthansa's second-quarter performance followed a loss of (EURO)397 million in the first three months of the year, also blamed on high fuel prices.


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