Lufthansa Group raises operating profit for first half-year
Deutsche Lufthansa AG has reported an operating profit of €114 million ($152.4 million) for the first six months of 2014, an improvement of €41 million on the €73 million of the same period last year. Total revenue for the period amounted to €14.2 billion, a decline of just under 2.1 per cent. Adjusted to exclude non-recurring expenditure totalling some €105 million – for such actions as the accelerated installation of the new Lufthansa Business Class seating and provisions relating to the Score programme – the first-half operating result amounted to €219 million, a €75 million year-on-year improvement. The prime reasons for the improved result were the positive impact of the new depreciation policy for aircraft and spare engines which was adopted at the beginning of the year and the enhanced cost structures in the passenger business segment. The net result for the first half-year amounted to €79 million, a €124 million improvement on the prior-year period.