Lufthansa Reports Nine-Month Loss of 32 Million Euros

Against the background of a persistently difficult environment characterized by continuing demand and price weakness, the Lufthansa Group generated revenue of 16.2 billion euros, a decline of 13.2 percent, in the first nine months of 2009.

The achieved operating profit of 226 million euros, compared to 954 million euros in the previous year, includes first-time earnings contributions from Austrian Airlines and British Midland totaling 28 million euros as well as earnings from the reversal of a bad will as a result of the initial consolidation of Austrian Airlines (61 million euros).

The net loss for the period was 32 million euros, compared to a net profit of 529 million euros in the previous year. Last year’s figures have been adjusted in line with measurement changes under IFRIC 13. The Lufthansa Group’s earnings continue to be subject to very considerable risks as a result of volume and price trends and renewed oil price increases.

A sharp drop in revenue and continued pressure on earnings is therefore expected for the full year. Negative earnings contributions are also anticipated from the new companies in the airline group over the months ahead.

Business performance in the fourth quarter will therefore be a deciding factor in whether these factors can be successfully compensated for and the goal of a positive operating result for the now expanded Group can still be achieved.