Lufthansa suffers first-half loss, despite record cargo profit

GERMANY's Lufthansa Airline Group's overall business suffered a loss of EUR171 million (US$223 million) in the first half of the year despite its cargo business' unprecedented EUR144 million operating profit, which was EUR278 million more year on year.

The freight business shows that consistent cost management also paid off during market recovery phases," said Lufthansa CFO Stephan Gemkow.

The overall business that saw a profit of EUR159 million in the second quarter, suffered a loss in the first half due to conditions such as industrial action, an extreme winter season and the shutdown of European airspace due to the ash cloud early this year, the company said.
(Source:www.schednet.com)