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Lufthansa makes a profit despite strikes

DHL posterFRANKFURT: Lufthansa reported an operating profit of €849 million on revenue of €22.6 billion for the first nine months of 2014 – a rise of €186 million year-on-year.

Despite several pilot strikes that cost the group €105 million, net profit increased €235 million to €482 million during the period.

Lufthansa says it expects to post an operating profit of around €1 billion for the year, "excluding the impact of any further strike action between now and year-end".

Commenting on the result CEO Carsten Spohr said: "We must find solutions – in the interests of all our employees, our customers and our shareholders – that will ensure the long-term viability of our company for the decades ahead. And we cannot afford to overlook this vital priority in our current collective labor agreement negotiations, either."

Lufthansa Cargo carried 1.22 million tonnes of airfreight for the first nine months of 2014 and reported a 1.9 percent drop in cargo revenue to €1.76 billion. The company says careful capacity management enabled it to produce an operating result of €51 million - up 13.3 percent over 2013 - with EBITDA rising 38.6 percent to €115 million.

During the year the company also completed an agreement with All Nippon Airways (ANA) for a unique joint venture on routes between Europe and Japan. ANA and Lufthansa Cargo will coordinate all network planning, pricing, sales and handling and launch their first service on December 01, 2014.

On the same day Alexis von Hoensbroech, former commercial director Frankfurt for Lufthansa Passenger Airlines, will become head of product and sales for Lufthansa Cargo following the departure of his predecessor Andreas Otto to chief commercial officer at Austrian Airlines.

In addition to the airline, the Lufthansa group's logistics segment includes ULD specialist Jettainer and an equity investment in AeroLogic. During the nine months under review, Lufthansa Cargo took delivery of its fourth 777 freighter, decommissioned two older MD-11s, retired a third and decided to withdraw a fourth at the end of the year. Currently the freighter fleet flies to 44 destinations.

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