Flight International online news 10: 00 GMT: German flag-carrier Lufthansa has increased its full-year operating profit forecast to more than €400 million ($495 million) after a strong first half performance in which its operating profit rose to €253 million ($313 million).
The operating profit for the period to 30 June is a huge improvement on the interim figure it posted for the first six months of 2004, when it scraped a surplus of just €33 million ($40.8 million).
Revenue for the half-year rose by 2.4% to €8.45 billion ($10.45 billion).
During the second quarter the company turned in an operating profit of €279 million ($345 million), an increase of 87% on last year’s equivalent period.
“Lufthansa chairman and CEO Wolfgang Mayrhuber described the half-year results as a “fine feat in a tough setting”, particularly given the high cost of fuel.
The company attributes the achievement to increased sales and higher average yields in both its passenger and freight businesses.
Source: Flight International