Lufthansa’s 3rd-quarter income down, upgrades outlook for full year
Deutsche Lufthansa AG today reported a 20.9 percent drop in third quarter net income to 329 million euros ($416.3 million), from to 416 million euros in the year-earlier quarter.
'This slight decline was due to positive one-off effects in the previous year, resulting from book gains from share disposals as well as from the first-time incorporation of SWISS,' Lufthansa said in a statement.
The Lufthansa group's third quarter operating income improved 80.7 percent to 394 million euros ($498.6 million), from 218 million euros a year ago. Group revenues rose 10.8 percent to 5.33 billion euros ($6.74 billion) from 4.81 billion euros.
After nine months, Lufthansa's net income was about the same as it was this time last year at 414 million euros ($523.9 million). Operating income increased 46.7 percent to 691 million euros ($874.8 million) from 471 million euros. Revenues increased 12.9 percent to 14.98 billion euros ($18.96 billion) from 13.27 billion euros after three quarters 2005.
During the nine-month period Lufthansa Cargo increased its volume of cargo and mail transported to 1.3 million tons, its highest level ever.
'Lufthansa remains on success course,” said Wolfgang Mayrhuber, chairman and chief executive officer. 'The result and the resonance in the market underline our strategic direction. We have become better, larger and more profitable.'
The group has raised its guidance for the full year and now anticipates an operating profit of about 750 million euros ($949.6 million) 'in view of the continuing good development and the positive economic climate.'