Lufthansa has said its earnings will decline considerably more in 2009 than expected just a month ago, and “substantially below” 2008 figures. But the German flag carrier said despite the slump, it remains confident of beating rivals’ earnings performance this year as it cuts back on spending.Speaking at Lufthansa’s AGM, CEO Wolfgang Mayrhuber said “Our goal is to remain profitable. Our major competitors are forecasting losses.”
The Supervisory Board of the Lufthansa Group has approved the order for 30 short-haul aircraft.
The Lufthansa Group increased its offer and sales during the past business year. The Group was able to almost reproduce its previous year’s result by posting operating profit of around 1.35 billion euros. The Group profit was posted at 599 million euros; Last year’s figure had been 1.66 billion euros, however, it had also included 585 million euros of profit from extraordinary items. “This represents an outstanding result and its quality is underlined by the fact that it has been achieved during a time of global economic crisis. It reflects the quality of our company. A company in which a strong team, strong products and a strong balance were decisive in ensuring success. We intend to maintain our lead in the far more challenging environment of 2009. Our financial and operational flexibility will allow us to benefit from the opportunities that come our way during the crisis”, commented Lufthansa Chairman and CEO Wolfgang Mayrhuber, speaking at the presentation of the annual result for 2008. In view of the very good result and taking into consideration the current challenging economic situation, the Supervisory Board and Executive Board will be proposing a dividend of 70 eurocent per share at the annual general meeting.
An oasis of calm and relaxation awaits Lufthansa First Class passengers and members of the HON Circle at the new First Class Lounge in Concourse B at Frankfurt Airport following the opening of an exclusive First Class Spa on the premises. The spa’s extensive bathing area is equipped with six superior-quality shower rooms (two of them with jacuzzis), and - for the first time at a Lufthansa Lounge - two massage rooms. Here, guests can freshen up, unwind, recharge their batteries and also choose from a range of cosmetic treatments and massages.
An oasis of calm and relaxation awaits Lufthansa First Class passengers and members of the HON Circle at the new First Class Lounge in Concourse B at Frankfurt Airport following the opening of an exclusive First Class Spa on the premises.
Within just weeks of its inaugural flight, Lufthansa Italia is expanding its network in response to high demand. From 1 April, the airline will also offer flights on domestic routes from Milan Malpensa to Rome, Naples and Bari. Since the beginning of February, passengers have had a choice of several direct flights per day to Paris and Barcelona. Starting this week, the airline will also fly to Brussels, Budapest, Bucharest and Madrid. From the end of March, Lufthansa Italia will then add another two European destinations - London Heathrow and Lisbon - to its network.
Lufthansa has defied tough market conditions by raising its forecasts for the full-year 2008, as lower fuel prices and cost reductions offset weakening demand.The German carrier said it would post a full-year operating profit of around 1.3 billion euros (US$1.7 billion), compared with its previous expectation of 1.1 billion, thanks to a stronger-than-expected fourth quarter.
Italian Prime Minister Silvio Berlusconi has said time has run out for Lufthansa to make a bid for reshaped Alitalia, paving the way for Air France-KLM to take a 25 percent stake in the relaunched carrier.“I don’t think there’s any more time for Lufthansa to insert itself in talks between Alitalia and Air France-KLM,” Berlusconi told a conference at the weekend.
The outcome for Lufthansa‘s bid for Brussels Airlines has been put off by the European Commission till the end of this month, rather than the originally planned January 12.The EC said the delay was so its officials could further examine possible anti-competitive aspects of the proposed acquisition.
The Supervisory Board of Deutsche Lufthansa AG has approved a bid to purchase up to 100 per cent of the shares in Austrian Airlines. Lufthansa will initially acquire the 41.56 per cent share in Austrian Airlines AG held by ?-sterreichische Industrieholding AG (?-IAG). This share package is to be acquired at a price of EUR 366,000.
Lufthansa is launching its new “Lufthansa Italia” brand in Italy. The new airline blends “traditional Lufthansa values, notably reliability and high quality, with Italian flair.”
Lufthansa has selected the UK as a key launch market outside Germany for its pioneering mobile boarding pass.